A public utility is a classic example of

Name: A public utility is a classic example of
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A public utility typically provides a vital good or service such as electricity, water, or natural gas that is difficult and expensive to replicate or duplicate. Therefore, they tend to be natural monopolies, meaning that one firm is able to provide the good or service at a lower cost than multiple firms could. This results in high barriers to entry and limited competition.

A Public Utility Is a Classic Example of