Determine an enzyme-catalysed reaction that follows Michaelis Menten Kinetics with Km=7.5 x 10-4 mol dm-3. Explain what concentration of a competitive inhibitor characterized by K1=5.6 x 10-4 mol dm-3 will reduce the rate of formation of product by 75 per cent when the substrate concentration is held at 1.0 x 10-4 mol dm-3.