-Use the Above Figure $\mathrm { Q } _ { 1 }$

question 247

Multiple Choice

-Use the above figure.If a commission regulates the above monopoly using fair-return (average cost pricing) ,then the industry's output will be ________ and the product's price will be ________.

• A) \(\mathrm { Q } _ { 1 }\) ; \(P _ { 1 }\)
• B) \(\mathrm { Q } _ { 2 }\) ; \(\mathrm { P } _ { 3 }\)
• C) \(\mathrm { Q } _ { 3 }\) ; \(P _ { 2 }\)
• D) \(\mathrm { Q } _ { 4 }\) ; \(P _ { 1 }\)

---

Definitions:

Delegated

Pertains to the transfer of authority or responsibility from one entity or person to another, often seen in organizational or governmental contexts.

Express Provision

A specific clause in a contract or legal document that explicitly states an agreement or condition.

Contract

A contract is a legally enforceable agreement between two or more parties that is bound by mutual consent and consideration.

Assignments

The process of transferring rights or duties from one party to another, often used in contracts, leases, or in the context of educational tasks.