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Which type of monopoly will be regulated under rate of return regulation. Draw the graphs of cost curves, demand & marginal curves, price & quantites prodcued under this type of regulation.

The agricultural market for corn usually can be characterized as a purely competitive industry. How might the following events affect the shot-run cost curves and output for a firm in the industry?
a) A reduction in the cost of fertilizer that is sold to corn farmers.
b) The market price of corn falls.
c) Suppose that the farmer now markets his corn as a special blend which is different than all of the other corn offered for sale in the marketplace. How would this action change the farmer's cost curves and/or demand and marginal revenue curves?

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