Florida Power & Light,an electric power company,is the only source of electricity for consumers in most parts of the Florida panhandle.As a(n)_____,the company receives approval from the state utility commission for the rates it can charge.

Question

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A pure monopoly exists when there is only one seller of a particular product, in this case, Florida Power & Light being the only source of electricity for most consumers in the Florida panhandle. As a pure monopoly, the company receives approval from the state utility commission for the rates it can charge.

Florida Power & Light,an Electric Power Company,is the Only Source