City gas is a natural monopoly that supplies natural gas to a particular city. its cost and demand information are given below. quantity (millions of therms) price ($ per therm) total cost (million $) 1 48 35 2 44 64 3 38 90 4 30 113 5 20 133 6 8 150 if the government decides to regulate this natural monopoly by forcing them to produce at the point where the demand curve intersects marginal cost, then the firm will make a and continue in the long run.

if the government decides to regulate this natural monopoly by forcing them to produce at the point where the demand curve intersects marginal cost, then the firm will make a LOSS OF $33 MILLION and WILL NOT continue in the long run.

Explanation:

When the production output increases from 4 to 5 million therms, the marginal cost of production is $20 million (= 133 - 113) and the marginal revenue is also $20. At this point, the company will be maximizing its accounting profit and its economic profit will be $0

The accounting profit/loss will = $100 million - $133 million = -$33 million

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