Empirical Estimates Indicate That the Annual Welfare Cost of Monopoly

Multiple Choice

Empirical estimates indicate that the annual welfare cost of monopoly in the United States

A) ranges from less than 1 percent to 5 percent of national income
B) ranges from 10 percent to 20 percent of national income
C) is approximately 10 percent of national income
D) is approximately $1 billion
E) is approximately $1 trillion