Which of the following best describes an industry where there is no direct competition,yet a firm operating in such an industry will have almost no control over pricing?

Question

Quizplus · Accepted Answer

A regulated monopoly describes an industry where there is no direct competition because a single firm dominates the market. However, the firm has almost no control over pricing because its prices are regulated by the government to protect consumers' interests and ensure fair access to essential services.

Which of the Following Best Describes an Industry Where There