In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that organization to ensure price protection for the buyer. This is an example of
A) pure competition.
B) a pure monopoly.
C) an oligopoly.
D) monopolistic competition.
E) a megopoly.

Question

Quizplus · Accepted Answer

This is an example of a pure monopoly, where a single company is the sole provider of a product or service, but it is regulated by the government to protect consumers.

In Many Geographic Areas, There Is Only a Single Provider