Answer the question(s) below:

0.) Why is there a social cost to monopoly power? If the gains to producers from monopoly power could be redistributed to consumers, would the social cost of monopoly power be eliminated? Explain briey. b.) Why will a monopolist's output increase if the government forces it to lower its price? If the government wants to set a price ceiling that maximizes the monopolist's output, what price should it set? c.) How should a monopsonist decide how much of a product to buy? Will it buy more or less than a competitive buyer? Explain briey