2. Assume that the current city-wide wage, net of sanctions, of drug dealers is $16 per hour. Consider a potential drug market in a neighborhood called High Square. Assume that the wage, net of sanctions, earned by drug dealers in High Square is given by W = 10N - N2, where N is the number of dealers operating in High Square at any time. a. Explain the wage equation W= 10N - N in economic terms. What does the relation between wages and number of dealers look like? Why is this shape expected? b. Assume that there are currently / = 2 dealers in High Square. What would you expect to happen to the drug market over time? c. Answer 2.b for the case where / = 3 and explain your result. d. Let's say there were / = 8 dealers in High Square and police decided to crack down in a fashion that raised expected sanctions by the equivalent of $5 per hour? What would you expect to happen? By how much would you have to increase expected sanctions measured in terms of the wage to eliminate the drug market