Question

In: Economics

Many electrical and gas utility companies are monopolies because of A. patent restrictions. B. their inability...

  1. Many electrical and gas utility companies are monopolies because of

    A.

    patent restrictions.
    B.

    their inability to earn profits.
    C.

    the absence of economies of scale in that industry.
    D.

    government regulations that create barriers for new firms to enter the market.

Solutions

Expert Solution

Many electrical and gas utility companies are Monopolies because of - D. government regulations that create barriers for new firms to enter the market.

In case of electrical and gas companies there requires government permission to open that production and business. For electricity and gas companies there is many rules and regulations which the companies has to abide by when they will operate the business. As there is many rules the government generally do not give or do not issues the permission.

Rahul Sunny answered 2 years ago
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