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This lecture explores the structure, regulation, pricing, and affordability of water utilities in the United States, focusing on community water systems by size and ownership. It delves into industry economics, demand, system design, regulatory frameworks, economic regulation, funding infrastructure, pressure on prices, household expenditures, water policies, pricing strategies, stakeholder perspectives, steps in ratemaking, cost allocation, rate design, evaluating utility rates, efficiency and equity, price signals, affordability concerns, and policies to address them.