Suppose that a rm acts as a local monopolist that sells tobacco. The monopolist faces a local demand given lav: on = 1m] -'l-p This rm also has a cost structure given by: The firm has zero fixed costs. 9. What is the profitmaximizing quantity for this monopolist to produce? Show your work. [2 points] Now suppose that the government steps in to regulate this monopolist, and imposes a price ceiling of $15 for this monopolist. 10'. Draw a figure here that includes the demand curve. marginal cost [ME], marginal revenue {MR}. and original choice of production {answer to part 1}. s5 alwavs. keep quantity on the x-axis and price on the vaxis. Label all intercepts. [2 points] 11. At what quantitv Will this new regulated monopolist choose to produce? Show 1pour work. [2 point] 12. What happens to both prots and consumer surplus in this case? If that:I ch ange. lav how much? Ehow Iyour work. [HINT: To do this. vou will need to calculate the old CE 31 P5 under the unregulated monopoly. and then the new CS 8: P5 with the price ceiling] [5 points]