Which government determines prices and standards of service

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Reference no: EM13981360

A firm such as a public utility, which is the sole producer in a market in which government determines prices and standards of service, is known as a(n):

a. regulated monopoly.

b. local monopoly.

c. natural monopoly.

d. monopolistically competitive firm.

e. oligopoly.

Reference no: EM13981360

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