Answer
a) Please see the first graph.
b) Please see the second graph.
Work Step by Step
a) The supply curve, the demand curve, the social cost curve, the social value curve, the market quantity, and the optimum quantity are noted on the graph.
b) Some alcohol is consumed in instances where the social cost exceeds the social value. Thus, the deadweight loss is below the social cost (but above the supply curve) and to the right of the social value curve (and exists between the optimum and market quantities).
