Price Controls: Price controls are government-imposed limits on prices charged for goods or services. They can take the form of price ceilings (maximum prices) or price floors (minimum prices), which influence supply and demand dynamics within regulated markets.
Monopoly Regulation: Monopoly regulation involves governmental measures taken to prevent monopolistic practices in markets where there is limited competition. These measures aim to protect consumers from high prices and restricted choices typically associated with monopolies.
Consumer Surplus: Consumer surplus represents the difference between what consumers are willing to pay for a good or service and what they actually end up paying. In regulated markets, consumer surplus can be affected by factors such as price controls or changes in market structure due to regulations.