QUESTION 10 James' Blue Rose Company is the only ower farm to have cracked the secret of creating a blue rose which has a fragrance that elicits the same psychological high as blue crystal meth (without the negative side-effects). Figure C (below) shows the demand for blue roses and the marginal cost of producing a blue rose. a) What is james' Blue Rose Company's prot-maximising output? 2 mark. b) What price does james' Blue Rose Company charge. and is it socially efcient? 2 marks. Figure C Price and cost (dollars per rose) 0 I 2 3 4 5 6 7 Output (roses per hour)