Real-time electricity pricing for end consumers Wholesale electricity prices vary strongly by the hour, but residential customers often pay a fixed price per kWh based on the average cost of electricity. "Real-time pricing\" offers an alternative pricing system: consumers pay a rate based on hourly wholesale market prices. a. Explain briefly but carefully why real-time pricing would have likely reduced the capacity withholding by Enron and others during the California electricity crisis. b. Explain briefly but carefully why average cost pricing is economically inefficient even in a fully competitive market. What do you expect to happen to total installed capacity after the introduction of real-time pricing? c. Why does a real-time pricing schedule help the environment