There are 10 households in LakeWobegon, Minnesota, each with a demand for electricity of

Q=60P.

Lake WobegonElectric's (LWE) cost of producing electricity is

TC=550+Q.

Score: 2.91 of 4 pts 4 9 of 9 (9 complete) v b HW Score: 85.23%, 27.27 of... @ Exercise 16 55 Question Help (I. There are 10 households in Lake Wobegon, Minnesota, each with a demand for electricity of Q = 60 - P. Lake Wobegon Electric's (LWE) cost of producing electricity is TC = 550 + Q. a. If the regulators of LWE want to make sure that there is no deadweight loss in this market, what price will they force LWE to charge? What will output be in that case? Calculate consumer surplus and LWE's prot with that price. (Round all responses to two decimal places.) The regulated price would be $ 1 , and the rm would produce 590 units of electricity. Total consumer surplus would be $ 17405 , and the rm would earn a $ - 550 prot. b. If regulators want to ensure that LWE doesn't lose money, what is the lowest price they can impose? Calculate output, consumer surplus, and prot. Is there any deadweight loss? (Round all responses to two decimal places.) The regulated price would be $|:|, and the rm would produce D units of electricity. Total consumer surplus would be $|:|, and the rm would earn a $|:| prot. Finally, there will be a deadweight loss of $D