Consider a monopoly, where the demand curve is given by P equals 25 minus Q, M R equals 25 minus 2 Q, T C equals Q, and M C equals 1. Compared to the efficient solution, this monopolist outome

Has a higher price and lower output than the perfectly competitive solution.

Has a lower price and lower output than the perfectly competitive solution.

Has the same price but lower output than the perfectly competitive solution.

Has a higher price but the same output than the perfectly competitive solution.

Consider a monopoly, where the demand curve is given by P equals 25 minus Q, M R equals 25 minus 2 Q, T C equals Q, and M C equals 1. Suppose the government wanted to regulate the monopoly so that it produced an output and charge a price as close to the perfectly competitive outcome as possible, but in such as way so that the monopoly does not make a loss. In this scenario, the monopolist would produce a quantity and charge a price such that Q=24, P=1 Q=12, P=13 Q=12, P=1 Q=24, P=24