suppose you have been tasked with regulating a single monopolyfirm that sells 50-pound bags of concrete . the firm has fixedcosts of $10 million per year and a variable cost of $1 per bag nomatter how many bags are produced? a. if this firm kept onincreasing its output level would ATC per bag ever increase? isthis a decreasing-cost industry? b. if you wished to regulate thismonopoly by charging the socially optimal price what price wouldyou charge? at that price what would be the size of the firmsprofit or loss? would the firm want to exit the industry?