Why are Merit Goods Under-Consumed or Under-produced? [Free Market Diagram]

-This is to do with how the Free Market operates, only caring for the Private Benefit and Cost. Merit Goods will have MSB or MSC more to the Right than their Private counterpart. -But since the Free Market cares for the Private Benefit / Cost, MSB or MSC or both is Ignored, leading to a Under consumption or Under Production -A Welfare Gain is Lost.