f. Suppose that, instead of lowering a from 0.5 to 0.25 through regulation, the government imposes a tax t on the market rental value of land and statutorily requires renters to pay. Thus, if the market land rental rate is R per acre, those using the land must pay tR on top of the rent R for every acre they use. Set up the renters’ utility maximization problem, derive the demand for land, and aggregate it over all 100,000 individuals. Then derive the equilibrium land rent per acre as a function of t (assuming a 5 0.5).