Consider the health insurance market represented in the figure Question 3.a) Is this market characterized by adverse selection, advantageous selection, or neither? Question 3.b) Which point represents the competitive equilibrium allocation? Question 3.c) At the competitive equilibrium allocation, do insurers make positive, negative, or zero profits on the last (i.e. the marginal) consumer that purchases insurance? Question 3.d) At the competitive equilibrium allocation, what are insurers' total net profits? Question 3.e) Which point represents the socially efficient allocation? Question 3.f) What area represents the total social surplus generated at the socially efficient allocation? (Indicate an area by a set of points) Q=0% D AC MC Q=100%