Hello, I would like some help to solve this question. Thank you.

1. (24 points) A chemical factory discharges waste products into a river resulting in significant damages to a local fishery. The marginal damage (MD ) function to the fishery (measured in terms of the value of lost fish stocks) is given by MD = 4E. The chemical factory can reduce its effluent flows by treating its waste products. Its marginal abatement cost (MAC) function is given by MAC = 1, 200 -6E. (a) Find the level of effluent flows if the chemical factory is not regulated and the socially efficient level of effluent flows (socially efficient equilibrium). (8 points) (b ) If the chemical factory has the property right to use the river, what bargaining will result in the socially efficient equilibrium? What are the net gains experienced by each party?| (8 points) (c) If the fishery has the property right to use the river, what bargaining will result in the socially efficient equilibrium? What are the net gains experienced by each party? (8 points)