O learn-ap-southeast-1-prod-fleet02-xythos.content.blackboardcdn.com C Content Bb https://learn-ap-southeast-1-prod-fleet02-xythes.cont. Activity Stream H Convert Heic to JPEG for free | Made by JPEGmini 1. Suppose the market of good x is a monopoly (not a natural monopoly). Derive the market price and output level graphically. Explain your answer. (5/40) Covid-19 pandemic increases the production cost of the firm. How would the market output and price be affected by the increase in production cost? (5/40; hint: regard the increase in production cost as an upward shift of both average and marginal cost curves)