The Singapore government discourages driving by limiting the registration of new cars and auctioning the licenses. Each license allows the owner to operate a car for ten years. The prices of licenses uctuate with demand conditions and the number of licenses. (a) Classify and explain the following as decisions of participation or extent. (i) Whether to buy a new car; (ii) How much to drive the car. (b) How would the price of a new car license affect the decision on whether to buy a new car? (c) How would the price of a new car license affect the marginal cost of driving and the decision on how much to drive the car? ((1) People who bought cars when licenses were more expensive drove more. How would you explain such behavior