Question: Do total profits (A) decrease, (B) increase, or (C) stay the same when new technology reduces average total costs (shifts ATC downward in Figure 12.2

Do total profits (A) decrease, (B) increase, or (C) stay the same when new technology reduces average total costs (shifts ATC downward in Figure 12.2 ) in

(a) An unregulated natural monopoly?

(b) A price-regulated natural monopoly?

(c) A profit-regulated natural monopoly?

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