The gross domestic product (GDP) concept accounts for society's valuation of the relative worth of goods and services by using a ________.

For direct price discrimination to work effectively

a. The low-valued customers should not be able to engage in arbitrage b. You need to charge the same price to the different groups c. Both groups should have the same elasticity of demand d. None of the above

Use the following graph to answer the next question.Suppose that this pure monopoly is subjected to a regulatory commission. If the commission seeks to achieve the most efficient allocation of resources for this industry, it should set the price at ________.

A. P1 B. P2 C. P3 D. 0