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The accompanying diagram illustrates your local electricity company's natural monopoly. The diagram shows the demand curve for kilowatt-hours (kWh) of electricity, the company's marginal revenue (MR) curve, its marginal cost (MC) curve, and its average total cost (ATC) curve. The government wants to regulate the monopolist by imposing a price ceiling. GRAPH CANT COPY a. If the government does not regulate this monopolist, which price will it charge? Illustrate the inefficiency this creates by sh
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