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Refer to the Graph Shown

Question 97

Multiple Choice

Refer to the graph shown. If the government's goal is to eliminate the welfare costs of monopoly, it will: 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 P<sub>3</sub>. B) establish a price ceiling at P<sub>2</sub>. C) establish a price floor at P<sub>1</sub>. D) not attempt to control price.


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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