A monopolist faces the inverse demand function of P = 11 – 2· Q with MC = 1 and F = 5. So far, the monopolist is unregulated. %3D 2.1 Calculate the monopoly price (PM) and quantity (QM). 2.2 Calculate...

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Extracted text: A monopolist faces the inverse demand function of P = 11 – 2· Q with MC = 1 and F = 5. So far, the monopolist is unregulated. %3D 2.1 Calculate the monopoly price (PM) and quantity (QM). 2.2 Calculate the consumer surplus (CSM), profit (TM), and total surplus (TSM) under this monopolization. Now a regulator introduces the Return on Output (Ro0) regulation with the return rate kRo0 = . 2.3 Shortly describe the Return on Output (RoO) regulation. Then, calculate the regu- lated price (PRoo) and quantity (Q Roo). 2.4 Calculate consumer surplus (CSRO0), profit (TROO), and total surplus (TSRO0). How much total surplus increase does the market experience compared to the unregulated situation? 2.5 Discuss if a monopolist under Return on Output (Ro0) regulation has the incentive to waste. Furthermore, discuss what will happen if the regulator changes the rate from kRoo = to kRoo = .