John Gardner is the city planner in a medium-sized southeastern city. The city is considering a proposal to award an exclusive contract to Clear Vision, Inc., a cable television carrier. Mr. Gardner has discovered that an economic planner hired a year before has generated the functions given below: P = 28 - 0.0008Q MC = 0.0012Q where Q = the number of cable subscribers and P = the price of basic monthly cable service. a. b. c. What price and quantity would be expected if the firm is allowed to operate completely unregulated? Mr. Gardner has asked you to recommend a price and quantity that would be socially efficient. Recommend a price and quantity to Mr. Gardner using economic theory to justify your answer. Compare the economic efficiency implications of (a) and (b) above.