Price Soclal Cost Supply [Private Cost) Damand {;;_ Quantity of Concerts 6. Refer to the above figure. What price and quantity combination best represents the optimum price and number of concerts that should be organized? (1 mark) a.P1,Q1 b.P2,Q0 c.P1,Q0 d.P2,Ql 7. According to the Coase theorem, how is an efficient outcome reached? (1 mark) a. Interested parties can reach an outcome in which everyone is better off through private bargaining. b. The outcome reached through private bargaining will be inefficient. c. Interested parties will need an arbitrator in order to reach an agreement that is efficient. d. The government will need to participate in the bargaining process