(a) Answer this question according to lecture discussion. Use three separate properly labeled

graphs to help you explain the three cases of government regulating a non-natural

monopoly in an attempt to restore allocative efficiency.

(b) Use a properly labeled graph to help you explain how to determine the market outcomes

(price, quantity, profits, consumer surplus, and deadweight loss) of a natural monopoly.

Evaluate whether these outcomes lead to productive efficiency and/or allocative efficiency.

Explain why government regulation in restoring allocative efficiency is not sustainable.

Suggest a similar regulation that is sustainable in which it may result in a lose-lose-loselose situation.