. Assume that this year marginal willingness to pay function for lobsters by people vacationing in Newfoundland is given by MWTP=100-L, where L is the quantity of lobsters in tons. The marginal harvesting function is MCC=L. The overall marginal cost function is given by MTC=3L. a) Calculate the socially efficient equilibrium (price and quantity). b) Calculate the marginal rent at this level. c) Calculate the total lobster rent at the socially efficient level of output. d) Draw the diagram. Carefully label axes. On the diagram indicate marginal rent, total rent, socially efficient level of output and optimal price.