Use the graph to the right for a monopoly to answer the questions.
What quantity will the monopoly produce, and what price will the monopoly
charge?
The monopoly will produce 48 units and charge $ 7.20 per unit. (Enter
numeric responses using real numbers rounded to two decimal places.)
Suppose the monopoly is regulated. If the regulatory agency wants to
achieve economic efficiency, what price should it require the monopoly to
charge? How much output will the monopoly produce at this price?
The regulatory agency should regulate a price of $4.80. At that price, the
monopoly will produce 52 units.
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