To avoid harm to society, the government often becomes the supplier of a good or service when the respective market

Question

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When a market would be a natural monopoly and the good or service is considered essential (such as utilities or certain infrastructure), the government stepping in as the supplier can prevent the harmful effects of the monopoly on society. In this situation, competition would not be possible and the market would likely result in high prices and low quantity supplied. Therefore, the government provides the good or service to ensure accessibility and affordability for all.

To Avoid Harm to Society, the Government Often Becomes the Supplier