1. If the government imposes a per-unit tax on a good sold in a perfectly competitive market, what will happen to the equilibrium price and quantity (increase, decrease. no change)? Equilibrium Price Equilibrium Quantity 2. If the government grants a per-unit subsidy on a good sold in a perfectly competitive market, what will happen to the equilibrium price and quantity {increase, decrease. no change}? Equilibrium Price Equilibrium Quantity 3. If the government imposes an effective minimum wage on a labor market. will an elasticorinslaslic demand for labor cause more unemployment as a result of the minimum wage? 4. Suppose the government imposes a lumpzsumjax on a perfectchompetitixe prot maximizing rm. How will the tax impact the rm's average total cost, marginal cost. output. and price (increase, decrease. no change}? Average Total Cost Marginal Cost Output Price 5. Suppose the government grants a pawniljuhsid! to a perfectllcompejitiva prot maximizing rm. How will the subsidy impact the rm's average total cost, marginal cost. output. and price (increase, decrease. no change}? Average Total Cost Marginal Cost Output Price 6. Suppose the government grants a lumpzsumjubsidu to a prot maximizing monopoly. How will the subsidy impact the nh's average total cost, marginal cost, output, and price (increase, decrease. no change}? Average Total Cost Marginal Cost Output Price 7. Suppose the government imposes a paHJniLtax on a prot maximizing monopoly. How will the tax impact the n'n's average total cost. marginal cost. output. and price (increase. decrease. no change)? Average Total Cost Marginal Cost Output Price 8. Use the graph of a natural monopoly below to answer the questions. (DWL is deadweight loss} Identify the unregulated price Calculate the unregulated DWL Identify the fair return price Calculate the fair return DWL Identify socially optimal price Calculate the lump sum subsidy needed at a socially optimal price 9. What is the purpose of antitrust legislation