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. Economies of Scope and Scale You are asked by a regulator to assess if the least cost production of cell phone service and landline service would occur if these two services were provided by a single rm. The cost function for a single rm to supply these two services is given by C (x. y) = x + 1 y + (Icy); Please state whether a single producer of the two goods would allow for least cost production. Explain/show your answer. . Natural Monopolies and Pricing Consider a natural monopoly with total costs C = 400 + 8Q. Market demand is Q = 300 4P. Imagine the regulator implements a linear tariff for the good. If price is set to marginal cost, what are the monopolist's output and prots? What is consumer surplus? . If price equals average cost, what are the monopolist's output and prots? What is the consumer surplus? There is now two-part pricing. The monopolist sets price equal to the marginal cost and charges a xed fee per customer. Assume that demand comes from 100 identical consumers. What is the participation fee if the regulator sets prices to maximize consumer surplus with the monopolist breaking even? . What participation fee would a profit-maximizing monopolist set