In Many Geographic Areas, There Is Only a Single Provider

question 112

Multiple Choice

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

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Definitions:

Pacific Halibut

A species of flatfish native to the North Pacific Ocean, known for its popularity in commercial and recreational fishing.

ITQs

Individual Transferable Quotas; a system used in fisheries management in which individual fishers are allocated specific shares of the total allowable catch.

Living Standards

A measure of the wealth, comfort, material goods, and necessities available to individuals or societies.

Per Capita Energy

The average amount of energy consumption per person in a specific population or area.