4. Serene is a dance instructor who tends to play music very loudly at home while practicing. Her neighbor, Jennifer, is a teacher who needs a quiet environment to mark her students’ assignments. Dancing gives benefits to Serene worth $120 daily. But Jennifer’s marking progress is affected and it costs her $50 everyday.

a. Is it efficient for Serene to stop dancing with loud music on since it inconveniences Jennifer?

b. If Serene has the right to do whatever she prefers but both parties can negotiate with no cost involved, will Jennifer be able to mark assignments in a quiet environment?

c. Jennifer has the right to a quiet environment and Serene can only play music loudly with Jennifer’s approval. Assume both parties can negotiate with no cost. Will Jennifer be able to mark assignment in a quiet environment?