In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm 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

A pure monopoly occurs when only one firm sells the product.Typically,marketing plays a small role in a monopolistic setting because the firm is regulated by the state or federal government.

In Many Geographic Areas,there Is Only a Single Provider for Gas