2. [Module Till] The perfectly competitive market for land has a fixed supply of Sillltl units and the equilibrium rental rate for land is $ 1 [It] per unit. a. Draw a correctly labeled graph of the market for land. In your graph identify: i. The equilibrium rental rate for land. ii. The equilibrium quantity of' land. iii. The area that represents economic rent. b. Calculate the total amount of economic rent at market equilibrium. Show your work. c. Suppose the economy improves and the demand for land increases. 1Will the improving economy increase, decrease, or remain unchanged: i. The equilibrium rental rate for land. ii. The equilibrium quantity of land. iii. The area that represents economic rent. [9 points)