Please show ALL work and FULLY explain ALL answers.

Consider a beekeeper that is deciding how much honey to produce.The beekeeper gains a benefit from producing honey, represented by the marginal benefit function and which is given by:= 3006

where Q is barrels of honey.

In addition, she has a marginal cost function, which reflects her cost of producing honey; this is given by:= 40+4

The beekeeper's total profit function is given by:=26052

The more honey the beekeeper produces, the more bees there are to pollinate a neighboring apple orchard.Thus, in addition to the private benefit accruing to the beekeeper herself, there is also a marginal external benefit to the apple orchard, which is given by:= 1002

And a total external benefit to the apple orchard given by:=1002

a.Find an expression for the social marginal benefit (SMB) in this case, defined as you think appropriate.Calculate the level of honey production that will arise if the beekeeper acts in her self-interest only.Calculate the socially efficient level of honey production as well.

b.Suppose that the beekeeper and the owner of the apple orchard enter into negotiations.The orchard owner wants to offer a payment to the beekeeper to change honey production from her self-interested production level to the socially efficient level (all at once).What is the maximum total payment that the orchard owner would be willing to pay for this overall change?What is the minimum total payment that the beekeeper would require before making this overall change?

c.Assume that, if a deal is reached, each party must pay $35 in legal fees to finalize it.If there are no additional transaction costs, will the socially efficient quantity be reached?Explain.