A producer of manure is located next to a bakery. The producer of manure produces M pounds of manure daily and earns pro fits of 240M - M2. The bakery sells C cakes daily, and it earns profits of 480C - C2 - MC (the strong smell of manure drives away the appetite of many would-be customers of the bakery). V 1st attempt Part 1 (1 point) See Hint In a competitive equilibrium solution, where each business seeks to maximize profits, a total of pounds of manure will be sold daily. Part 2 (1 point) See Hint From a social point of view, the producer of manure should not produce at all. Choose one: O A. true OR falco