Could you please help answer these questions?Thank you

5. The graph below represents a natural monopoly (a single-price monopolist who profit-maximizes) I Price 525x ATC D MC 10 Quantity a. Why would the government attempt to regulate the price that this monopoly sets? Why can't they simply break the firm up into several smaller firms? b. What price would the government set if they wanted to ensure an efficient market outcome? Why is this difficult to maintain? Explain. c. If the outcome in (b) is impractical what pricing scheme would you recommend? Why? 6. A competitive firm currently produces and sells 1,500 units of output at a price of $2.45 per unit. The firm's fixed costs are $750.00 and its average total cost is $2.80. a. What are the firm's profits? Show your work. b. In the short run, should the firm continue to operate? Explain why (operate or shutdown - what are their choices). c. In the long run, what do you expect to happen in this industry? Explain why (entry or exit, change in market price, change in firm output). 7. Bob owns a small hair salon and had revenues of $150,000 this year. Bob spent $11,000 on utilities, $43,000 on supplies (shampoo, conditioner, hair coloring and other chemicals, etc.), and $25,000 on equipment (mirrors, chairs, scissors, curling irons, etc.), including maintenance. Bob could have earned $55,000 working at another salon. Assume that Bob took $100,000 out of his savings to finance the hair salon. Assuming that Bob was earning interest on his $100,000, what is the maximum interest rate that Bob could have been earning so that his economic profit remains positive? Explain. 8. The government often grant monopoly power to private firms through patents. How does this effect consumers? What is the justification for granting this type of monopoly power