What are three policy options for dealing with pure monopolies that are entrenched and inefficient?

What will be an ideal response?

First, government can break up the monopoly into competing firms through the use of antitrust laws. Second, government can regulate the monopoly. In this latter case, the monopoly firm is permitted to exist, but its price and output decisions are subject to public scrutiny through regulation. Third, the government may do nothing if the monopoly is short-lived.