(4 pts) A price-setting dominant firm (firm 1) operates in a market producing a homogenous good, but faces competition from a competitive fringe. The supply curve of the fringe firms is given by S(p) = 2p. You don't know exactly what the demand curve is or the dominant firm's marginal cost, but you do know that in the 2023 equilibrium, the dominant firm has a market share of 70%. However in 2024, the dominant firm decides to exit the industry, so consumers can only buy from the competitive fringe. Will prices in 2024 decrease, increase or stay the same compared to 2023? Briefly explain the reasoning behind your