City Gas is a natural monopoly that supplies natural gas to a particular city. Its cost and demand information are given below.

Quantity (millions of therms) Price ($ per therm) Total Cost (Million $)

1 48 35

2 44 64

3 38 90

4 30 113

5 20 133

6 8 150

An unregulated monopoly will have a __________ of _______________.

a) loss, $24 million

b) loss, $7 million

c) profit, $7 million

d) profit, $24 million