Based on the graph below what price and quantity correctly d…

Based on the graph below what price and quantity correctly describes the social equilibrium if there are negative externalities associated with the production of this product. There are two MC curves (one for the MC from the private firms perspective and one for the MC from societies perspective)– You will have to decide which MC curve goes with each case before you will be able to answer this question.         

Shifting the supply and demand curves: Each diagram shows a…

Shifting the supply and demand curves: Each diagram shows a shift of a demand curve and a supply curve. The arrows indicate the direction of the shift of the curve.   Figure 3.6   Which panel of Figure 3.6 represents the changes in the market for new cars when the government mandates new equipment (catalytic converters) be installed in every new car to reduce emissions and consumers incomes increase?