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Ampstand is a natural monopolist earning economic profits. [a] Draw a graph of Ampstand, labeling the prot-maximizing price Prlrlr the protmaximizing quantity Elm. and the allocatively efficient quantity (150. Shade the area of deadweight loss. {b} If Ampstand is earning economic prots, why would other rms not enter the market? Explain. [c] The government decides to regulate Ampstand's price and follows a fairreturn policy. On your graph from part [a], label this price Pm and the new output quantity QFR. [d} If Ampstand's total revenue at PFR changes to $'t0 million. what must its total cost be at this productive quantity? [e] Determine the output quantity from part {d} if PFR is $113. The demand curve intersects the yaxis at $15. What is the consumer surplus with the government intervention? (f) How would the government action in part [c] affect the deadweight loss in Ampstand's market? {g} What would the government have to do to get Ampstand to produce at the socially optimal quantity and stay in the market in the long run? Explain. [h] Wattsit is a small rm that sells a complementary good to Ampstand's product in a perfectly competitive market. Assuming Wattsit was in iongmn equilibrium, illustrate the shortrun effect of the government intervention from part {e} on Wattsit's supply and demand in a separate graph. If Wattsit earns any economic prot or lossr shade it. [i] What happens to the demand for the inputs in the factor market required to produce Wattsit's good as a result of the changes in part [h]