1. Graphically portray the following: a. A negative externality b. A positive externality 2. Graphically represent the following: a. A corrective tax that achieves the socially optimal output farther away b. A corrective tax that moves the market output from the socially optimal output than was the case before the tax was applied

Q: a. How does the amount produced by a free market compare with the socially-optimal level of…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

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A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

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Q: c) Using a supply and demand diagram, demonstrate how a positive externality leads to market…

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A: "Since you have asked multiple question, we will solve the first question for you. If youwant any…

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A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

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Q: QUESTION 20 55.00 50.00 Supply 45.00, 40.00 35.00 30.00 MSC 5.00 20.00 15.00 Demand 10.00 5.00 15000…

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