What is the consequence of setting a price floor in a competitive market? O a. There is some transfer of surplus from consumers to producers O b. There is dead-weight loss in the market O c. Both a) and b) are true O d. Neither a) nor b) is trueAssume that the company Netflix considers Hulu to be very close competition (or a close substitute) in their market. If that is indeed the case, what should be true from the following when Netflix estimates the change in quantity demanded (in this case, the number of subscribers) of their own service when the subscription fees (price) of Hulu changes? O a. Cross price elasticity of demand (Ecp) is positive but less than 1 O b. Cross price elasticity of demand (Ecp) is positive and greater than 1 O c. Cross price elasticity of demand (Ecp) is negative O d. Income elasticity of demand (Ei) is positive