Problem
Policy application . Suppose that you are in charge of the municipal water system of Smallville. A drought is threatening your water supply just as the city council has asked you to develop a new water fee schedule. In designing the fee schedule, how would you take into account the need to restrict demand, differences in elasticities of demand and ability to pay, and other considerations?
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.