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Now assume the federal government imposes a regulation on the monopoly. Draw a new monopoly graph for part 2. Show and explain how the regulated

Now assume the federal government imposes a regulation on the monopoly. Draw a new monopoly graph for part 2.

Show and explain how the regulated electrical monopolist would determine its profit-maximizing price and output level. (Label Pr and Qr)

Identify any area of consumer surplus and/or producer surplus for the profit maximizing monopoly.

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