In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that entity 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 situation describes a pure monopoly, where a single company is the sole provider of a product or service, but it is regulated by the government to prevent price exploitation.

In Many Geographic Areas, There Is Only a Single Provider