Use figure 1 below to answer the following questions.Electricity is market that tends to become a monopoly because it is an industry that has high barriers to entry (powerplants are expensive and transmission of electricity over long distances of land is inefficient) and economies of scale (power generation gets cheaper as additional power is generated). A.) Suppose we allow this industry to remain a monopoly, show the price and quantity. B.) Can we improve the outcomes in this market for consumers? If so, how?

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