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Color Mate Inc., a company that produces interior and wall paints, dumps its chemical waste in a river. Which of the following is likely to be true in this case?

a. The social cost of the company is higher than the private cost, and the equilibrium quantity of paints produced is less than the social optimum.

b. The social cost of the company is higher than the private cost, and the equilibrium quantity of paints produced is larger than the social optimum.

c. The social cost of the company is lower than the private cost, and the equilibrium quantity of paints produced is larger than the social optimum.

d. The social cost of the company is lower than the private cost, and the equilibrium quantity of paints produced is less than the social optimum.