nicafactorylocatednext to a farm) Airborne aimions from the chemical factory damage crops on the farm. The marginal benefits of emissions to the factory and the marginal costs of damage to the farmer are as follows: Quantity of emissions 100 200 300 400 500 600 700 8430 WW inal benefit to factory 320 280 240200 320 | 280 | 240 | 200 | 160 | 120 | 80 | 40 | 0 ($000) Marginal cost to farmer 10130 150170190210 230 250 270 ($000) p.66 ) Suppose that there are no laws preventing the chemical factory from emitting pollution. How much pollution will it emit? Briefly explain why. From an economic point of view, what is the socially optimal level of ssions from the chemical factory? Briefly explain why, using a graph to support your answer Again, assuming there are no laws preventing the factory from polluting, deseribe how the socially efficient outcome could be achieved using the Coase Thcorcm d) While the Coase Theorem solution from part (e) is economically fficient, do you think it is equitable? Briefly explain why or why not