The Australian national electricity transmission grid links eastern and southern states Queensland, New South Wales, Australian Capital Territory, Victoria, South Australia, and Tasmania. The national grid does not connect with regional grids in Western Australia and the Northern Territory. In the wholesale electricity market, producers of electric power sell to distributors which then sell to retailers of electric power. In the retail electricity market, retailers sell to industrial and residential users. (a) In 2005, Basslink connected the island of Tasmania to the electricity grid in the other eastern and southern states. How did Basslink affect the boundaries of electricity markets in Australia? (b) Transmitting electric power over long distances is costly. Western Australia and the Northern Territory are far from the other states. Could that explain why their grids are not connected with the national grid? (c) State governments allow only one company to distribute electricity in each geographical area. Comment on the market power of that company. ((1) Apply the concept of vertical integration to explain the merger of a pro- ducer of electric power with a distributor