Part i) 6 marks In the table below are cost and demand data for a monopolist. Show all calculations. Quantity Price Marginal revenue Average cost demanded Marginal cost 0 $105.00 96.00 $96.00 $144.00 $144.00 87.00 78.00 90.00 36.00 78.00 60.00 70.34 30.00 69.00 42.00 63.00 42.00 60.00 24.00 60.00 48.00 51.00 6.00 58.50 51.00 42.00 -12.00 57.86 54.00 8 33.00 -30.00 57.50 55.50 24.00 -48.00 57.33 56.00 (a) What is the level of price, output, and amount of profit for an unregulated monopolist that produces where MR=MC? (b) Using the data in the table, what is the price, output, and profit for a regulated monopolist that sets a "socially optimal" price i.e. where P=MC? (c) Using the data in the table, what is the price, output and profit for a regulated monopolist that charges a "fair-return" price i.e. where P=ATC? (d) Analyze the effect of regulation on the allocation of resources. Which situation is most efficient? Which situation is most likely to be chosen by gov Part ii) (4 marks) The public transportation company in a city charges senior citizens & students $100 for a monthly pass. Everyone else pays $140 for a monthly pass. possible? From an economic perspective, why would the company do this? Explain