Ratemaking in an industry with one entity requires adherence to due processrequirements.

Question

Quizplus · Accepted Answer

Ratemaking, which involves setting prices for goods or services, in an industry with one entity still requires adherence to due process requirements. Due process refers to the fair and transparent procedures that must be followed in decision-making, even when there is no competition in the market. This is important to ensure that the prices are reasonable and not exploitative, and that consumers or other stakeholders have opportunities to provide input and feedback.

Ratemaking in an Industry with One Entity Requires Adherence to Due