A hypothetical technology lab has developed a new and incredibly resilient polymer material. This material will be used for the manufacturing of cell phone cases to make them virtually indestructible. Apple has expressed some interest in possibly purchasing the technology, but they have some concerns about the market for this product. Although the firm has developed environmentally-friendly production methods, the cheapest method of producing the material results in a waste stream that consists of some chemical residue that is washed into the sewer system during cleaning. Additionally, there are already numerous companies that produce strong/resilient iPhone cases. Please consider the following questions regarding this firm and market: a. (5 points) It can be assumed that in the absence of public policy intervention, the market would operate at an equilibrium point where quantity demanded equals quantity supplied. Is this the most efficient outcome for this particular market, given the information provided above? Why or why not