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QUESTION
Oligopoly, Monopolistic Competition, Monopoly, Mergers, and Acquisitions
You have learned that some markets are competitive, but that there are also a few markets that are serviced by just one firm. Examples include utility companies that provide electricity and natural gas to homeowners.
Please draw on your own experiences:
- Please identify and describe your local utility.
- Please explain what products or services it provides.
- Are there other companies that provide these products in your community?
- Have prices increased in the last 2 years? Please explain.
- Do you think prices would be higher or lower if there were two or more providers? Please explain.
