In the market for home heating, consumers typically have several options (e.g.electricity, heating fuel, natural gas, propane, etc.), yet we often think of firms in this industry as behaving like monopolists.Using your understanding of monopoly, discuss the context in which your electricity provider is a monopolist.Is this characterisation universally applicable? Carefully explain your answer.

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The Answer of In the market for home heating, consumers typically have several options (e.g.electricity, heating fuel, natural gas, propane, etc.), yet we often think of firms in this industry as behaving like monopolists.Using your understanding of monopoly, discuss the context in which your electricity provider is a monopolist.Is this characterisation universally applicable? Carefully explain your answer.

In the Market for Home Heating, Consumers Typically Have Several