Suppose that the card box has one large monopoly producing the card box in a region

Suppose that the card box has one large monopoly producing the card box in a region. The price of box is $12 per box, and the annual quantity demanded is 150,000 bottles. a.Draw the market demand and supply of card box and label the curves to show why the market output is inefficient. b. Suppose that under the antitrust regulations, the card box industry was opened to competition and now there are many small firms. As a result of regulations, the industry is transformed to a perfectly competitive industry in the region and thus the price of box decreased to $10 and production increased to 200,000 boxes per year. Explain why this output is efficient and show the gain in net benefits resulting from the increase in competition of the industry.