this question is about rent seeking as below :

QUESIION'E Ii: 3'9\":- i155} (a) Explain the concepts of rent and rent-seeking. {2 points) {b} What does the complete dissipation theorem state? Explain. (2 points) {c} How can the introduction of rent-seeking change the view of the cost of monopoly? (2 points) {d} Assume that a small town has many;r restaurants whose customers are tourists that come from outside the area. The residents want to shift the burden of taxation from themselves to the tourists. The local government proposes to reduce the poll tax on residents and replace it with a new tax on beverages sold in restaurants. Assume that the demand for beverages in restaurants is given by Q=210m-1500PD where P\" is the price that tourists pay per beverage, that the supply of beverages in restaurants is perfectly elastic at Pl=$4 where P5 is the price that restaurants receive pet beverage, and that the proposed tax is $1 perbeverage. {i} What is the maximum amount that residents are willing to invest in lobbying the local government for this change? What is the maximum amount that tom-ists would be willing to invest in lobbying to block this change'l'__}n_the basis of the amounts found would the proposed change take place? Provide a graphical representation. (3 points} (ii) Now consider that there are a few residents who know each other well and a large number of tourists who do not know each other. How is this liker to affect the outcome? (1 point)