The diagram below shows cost and revenue curves for a natural monopoly producing electricity. Price is dollars per kilowatt hour and quantity is kilowatt hours per day. 
FIGURE 12- 7
-Refer to Figure 12- 7. Suppose this firm is being regulated using a pricing policy of average- cost pricing. In this case, economic profits are equal to
Definitions:
Flow
A state of mind in which a person becomes fully immersed in an activity, experiencing a feeling of energized focus, full involvement, and enjoyment in the process of the activity.
Social Leadership
A leadership approach focused on creating, influencing, and sustaining relationships within groups or communities to achieve a collective goal.
Mediate Dispute
The act of resolving a conflict or disagreement between two or more parties through the intervention of a neutral third party.
Company Policies
Are guidelines established by businesses to govern their operations, employee behavior, and company procedures.
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