Fill in the social cost column for each action in the table below. Now assume that the farmer and factory attempt to negotiate an agreement about how each will operate in the upcoming growing season. A property rule will determine whether or not the factory has a legal obligation to install the scrubber. If they install the scrubber, there will not be additional liability for any crop damage. Assume that this society is made up of only these two parties (i.e. there are no additional costs or benefits to others) Use the same costs for actions in Table 1 in Question 1. Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the farmer's willingness to pay to induce the factory to install the scrubber? Why? Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the factory's willingness to accept in order to install the scrubber to abate its pollution? Why? Fill in the social cost column for each action in the table below. Now assume that the farmer and factory attempt to negotiate an agreement about how each will operate in the upcoming growing season. A property rule will determine whether or not the factory has a legal obligation to install the scrubber. If they install the scrubber, there will not be additional liability for any crop damage. Assume that this society is made up of only these two parties (i.e. there are no additional costs or benefits to others) Use the same costs for actions in Table 1 in Question 1. Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the farmer's willingness to pay to induce the factory to install the scrubber? Why? Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the factory's willingness to accept in order to install the scrubber to abate its pollution? Why