Could someone help me answer this questions, please!
b. In this scenario, the regulatory board imposed a price ceiling on the Onus monopoly ferry operator that was calculated to be well above the ferry owner's lowest AVC and equal to the ferry owner's lowest ATC. Explain in significant detail, what will be the short run and long run impact
s of such a price ceiling on the Onus monopoly ferry operator's profits and continued ability to provide service to the inhabitants of the island of Onus.