Hey, what's up, guys? We're going to be doing another economics tutorial here looking at externalities. So we're gonna be doing We're gonna be continuing on with our electricity example here, except now we're going to be finding the marginal social cost as well as the dead weight loss. So let's give a little bit of context before we get in. So the P on the right is the price measured in cents per kilowatt. The cute is the quantity measured in kilowatts per day. The EMC is the marginal cost measured in cents per kilowatt and then the MSC's your marginal social cost measured in cents per kilowatt, which we're going to be getting now. So your MSC is actually equal to your marginal cost plus the external cost caused by, um, the externality. So in this case, it will be pollution. Um, and to keep things simple, we're just going to assume that your external cost is just equal your marginal costs. So that would mean you're marginal. Social cost is just to EMC. So let's get to, uh, getting these numbers. So at a quantity of 100 your marginal social cost of the four at 200. It'll be eight at 300. It'll be 12 at 400. It'll be 16 and then at 500 it'll be 20. So then, now that we have an emergency social cost curve, we can actually find the social equilibrium, which would just be equating your marginal social cost with your price 12, 12 and a quantity of 300 kilowatts per day. Um, now that we have that, we can actually find the dead weight loss, which I've written the equation for. Up here it is one half because it's a triangle. The price that the consumer pays, minus the price that the producer pays times the equilibrium quantity minus the social equilibrium quantity. So I'll just draw out, um, where all those numbers are, just two things simple. So you have your quantity, you have your price. This graph might as a little small, so it might not be very pretty, but will make do you. You have your demand there, and then you have the supply that accounts for your externality. So this is the regular equilibrium. So this will be your Q e, um, the queue, the qs that we're gonna be using and your Q e. Here is, uh, it was it was 400. The equilibrium quantity, the new quantity for the social equilibrium is what we just got, which is 300. Um, and then the price that the consumers pay is up here at 12, and then the price that the producers get it's just going to be whatever the marginal cost is at our curve here. So it's actually six. So then, if you plug all those numbers in, what you'll get here is a dead weight loss of 300. Mhm. And, uh, that does it for this example. I'll see you guys on the next one farewell.