Let p denote the price of paper and q the market output of paper. the market is competitive the inverse demand function is p 120-q the inverse supply function is p 2q production of paper emits one unit of polution for each unit of paper, and the marginal external cost (mec) of this pollution is equal to mec q (i. e, 1x q) a. in a single graph with q on the horizontal axis and s/unit on the vertical, draw these curves: a mpc (marginal private cost), mec, msc (marginal social cost), and mpb (marginal private benefit). show the intercepts and the slopes. b. calculate the equilibrium price and output of paper (p*, q) and mark them in your graph c. calculate the social efficient level of output, q, and the deadweight loss (the loss in total surplus) from producing q instead of q indicate the area of deadweight loss in the graph (e. g., triangle ghi). indicate the area representing the total external cost from producing q d. suppose the govemment wants to achieve q by imposing a tax of t /unit of paper. show in your graph the t required to achieve q (t will be a certain vertical distance) and report its size e. instead of imposing a tax, suppose the government wants to achieve q by setting a suitable maxtmum price