Use the accompanying graph to answer the questions that follow.

a. Suppose this monopolist is unregulated.(1) What price will the firm charge to maximize its profits?(2) What is the level of consumer surplus at this price?b. Suppose the firm??s price is regulated at $80.(1) What is the firm??s marginal revenue if it produces 7 units?(2) If the firm is able to cover its variable costs at the regulated price, how much output will the firm produce in the short run to maximize its profits?(3) In the long run, how much output will this firm produce if the price remains regulated at $80?(3) In the long run, how much output will this firm produce if the price remains regulated at$80?

Price - 220 MC- 210 200 190 180 170 160 150 140 130 "ATC 120 110 100 90 80 70 60 50 40 30 20 MR 10 0- Quantity 0 1 2 3 4 567 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25