Refer to the graph shown. If the government's goal is to eliminate the welfare costs of monopoly, it will: A) establish a price ceiling at P₃. B) establish a price ceiling at P₂. C) establish a price floor at P₁. D) not attempt to control price.

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The Answer of Refer to the graph shown. If the government's goal is to eliminate the welfare costs of monopoly, it will: A) establish a price ceiling at P₃. B) establish a price ceiling at P₂. C) establish a price floor at P₁. D) not attempt to control price.

Refer to the Graph Shown