Power Circuit, a utility company that operates in Northeast U.S.is required to get approval from state regulatory agencies before increasing the price of its service because it is a(n)______________ company.
A) Publicly traded
B) State owned
C) Monopoly
D) International
E) Bankrupt

Question

Quizplus · Accepted Answer

Power Circuit is a monopoly company, meaning it is the only provider of the service in the region. As a result, state regulatory agencies oversee its operations and require approval for any price increase to protect consumers from potential abuse of market power.

Power Circuit, a Utility Company That Operates in Northeast U