Explаin hоw mоnоpolies set their profit mаximizing level of output (possibly with а graph). Explain why this creates deadweight loss (possibly with a graph). Why then do we have monopolies? What government policies are necessary, in your opinion, to regulate monopolies or to mitigate their impact on the market? This is a big question so you may use an example of 1 or 2 monopolies and talk about the regulations and whether they are good or need modifications. Remember if you are using a drawn graph write "see graph" in your answer and then after you have submitted the Quiz in honor lock. Then take a picture of the graph and upload it to the Graphs for Essay Question 3 Dropbox Assignment in CARMEN.