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2. (12 marks) Suppose the demand for wetlands (assume a pure public good) for two groups of consumers, local (L) and foreign (F) is given by Qu = 100 - 4P and QF = 70 - 2P (where Q is the number of square kilometres each group would like to see incorporated into the wetlands). Assume the marginal cost to provide the wetlands is a constant $9 per square kilometre: For the following calculations show your work. a) What is the socially efficient size (in square kilometres) of the wetlands? b) Illustrate with a diagram (including the demand functions for the two groups, L and F). C) What is the price? Briefly explain