Instructions: Enter your answers as a whole number.

a$.$ If the firm is operating as a natural monopoly, what is the profit$-$maximizing level of output and price charged to consumers?

$ $$ and $$ units will be sold

b$.$ At what price would the firm earn a normal profit?

$ $$

c$.$ Suppose the government regulated the monopoly such that it were required to charge the perfectly competitive price. What is th regulated price?

$ $$

d$.$ At the perfectly competitive price, the firm would be earning:

an economic loss.

a normal profit.

an economic profit.