5. (Equilibrium) In response to rumors about regulatory changes, Karim sells his firm to Anika. The cost function remains the same. Demand in the industry is given by p(y) = A - By, where A, B > 0. (a) (2) The government raises the cost of the license. How will prices, the quantity produced by each firm, and the number of firms in the industry change? (b) (2) After the market has returned to equilibrium, the government imposes a quantity tax on the industry. Show on a diagram how prices and quantities will respond over time. (Break the response into two stages, where the number of firms is fixed in the first stage but can adjust in the second stage. You do not need to explicitly compute prices or quantities.) (c) (1) Which side of the market bears the burden of the tax in the very long run? (d) (1) Anika's friend GW also owns a firm in a perfectly competitive industry, but GW's firm may have a different cost function and face different demand. Does the conclusion for (5c) apply to GW's firm as well? (e) (2) Anika buys up all the other firms in the industry and now has a monopoly. Taxes are still present. Compute the price that Anika's firm will receive. (f) (1) Does the price received by Anika's firm increase or decrease in the tax? (g) (1) If GW also gains a monopoly, is the conclusion from (5f) guaranteed to hold for GW's firm as well