Refer to the Graph for a Pure Monopoly

question 257

Multiple Choice

Refer to the graph for a pure monopoly. If the government regulated the monopoly and made it produce the level of output that would achieve allocative efficiency, what price and quantity levels would we observe in the short run?

• A)P₁ and Q₁
• B)P₂ and Q₃
• C)P₃ and Q₂
• D)P₄ and Q₁

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