Question: Use the following graph to answer the next question. A graph depicts 3 curves with price on vertical axis and quantity on horizontal axis.The horizontal
Use the following graph to answer the next question. A graph depicts 3 curves with price on vertical axis and quantity on horizontal axis.The horizontal axis lists labels from left to right as Q1, Q2, and Q3. The vertical axis lists labels from bottom to top as P1, P2, P3, and P4. Two decreasing lines MR and D are drawn from the point labeled P4 at the vertical axis. MR has a greater slope than D and meets the horizontal axis at Q2. Another u-shaped curve, MC intersects both MR and D at points labeled A and E, respectively. The dotted straight lines from all the labels at both the axes connects to the data points at the curves as follows: data point (Q1, P1) labeled A at MR and points (Q1, P3) labeled C; (Q2, P2) labeled E; and (Q3, P1) labeled F at curve, D. A dotted line from P3 connects to a point labeled B at the curve, MR. If the industry were served by a pure monopoly, the profit-maximizing price and quantity of output would be
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