In aggregate, the regulations are expensive: about $5.8 billion, or around $2 billion per cancer case reduced. On a per household basis, this works out to an annual cost of $4.10 in increased garbage bills over the twenty year life of a landfill. Using the concept of social welfare equations for i) Efficiency Standard and ii) Safety Standard, explain why the EPA's landfill regulation is (a) too strict (b) not strict enough. Hint: First start by explaining the equations of these two standards and their assumptions. According to the Efficiency Standard, the regulation is too strict, because it is too expensive (cost- benefit) but according to the Safety standard it is not strict enough (human health)