How To Automatically Approve Page Updates?

Currently, if a user updates a page they own, it goes unpublished and it has to be approved by the admin/moderator before the page is published again. Is there a way to have the pages automatically approved (disable admin approval)... and if so how can i do that?

Also, if this is possible, we would still like admins and moderators to receive notifications of page updates - that way they still know they should review them, but just not keep the page owners waiting on that review - would that still be possible?

Thanks