This is assessment 2: Research Essay 35 marks Length 2,500 words Please note that this question requires substantial research (see the assessment criteria) a) Choose an industry in Australia that was affected by Taylor Swift concerts in February 2024. Describe the industry in details such as turnover, revenue, output, and employment. Calculate the effect from the concerts on the industry including marginal revenue. Use Demand-Supply analysis with diagrams showing this effect with real data such as price for the concerts and quantity of tickets sold. 8 marks b) Identify the market structure your chosen industry belongs to. Critically evaluate the efficiency of this industry (use the Perfect Competition as a benchmark). 7 marks c) Briefly explain the concept of negative externalities. Choose one negative externality that arose from Taylor Swift concerts in Australia. Suggest ways to address this negative externality using economic theory. 8 marks d) Compare the industry you chose in part a) to the same industry in your home country (or country of your choice but different from Australia). Identify which market structure it belongs to. Use economic theory to evaluate this market structure with relation to allocation of resources. 9 marks