Problem
Explain verbally and graphically how price (rate) regulation may improve the performance of monopolies. In your answer distinguish between (a) socially optimal (marginalcost) pricing and ( b) fair-return (average-total-cost) pricing. What is the "dilemma of regulation"?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.