3. [4 points] If the food processing plant has the right to use the river ( or has the property right), (i) what amount of emissions is it likely to choose when there is no bargaining yet? (ii) what amount of emissions is it likely to choose when they reach a bargaining equilibrium? (iii) what is the net gain to the chemical factory in the bargaining equilibrium ( i.e. from bargaining arrangement compared to the situation where they do not bargain)? Remember net gain/benefit means total benefits - total costs. (iv) what is its net gain in the bargaining equilibrium ( i.e from bargaining arrangment compared to the situation where they do not bargain)? Remember net gain/benefit means total benefits - total costs. [ Show clearly how you got your answers to receive full credit. ]