Question: The table below shows cost data for producing different amounts of oil. The market for oil produces negative externalities in the form of pollution and

The table below shows cost data for producing different amounts of oil. The market for oil produces negative externalities in the form of pollution and environmental damage.
\table[[Price,Demand,Private Supply,Private + Social Supply],[5,49.5,42,27],[13,45,45,30],[21,40.5,48,33],[29,36,51,36],[37,31.5,54,39]]
How many barrels of oil will be produced by the free market?
What is the socially optimal output of oil?
The table below shows cost data for producing

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