Solved: Explain what products or services local utility provides, Microeconomics

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Explain what products or services local utility provides

Problem

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. Draw on your own experiences and what you have learned in Unit 5 to discuss the following points:

1. Identify and describe your local utility.

2. Explain what products or services it provides.

3. Are there other companies that provide these products in your community?

4. Have prices increased in the last 2 years? Please explain. 5.Do you think prices would be higher or lower if there were two or more providers? Please explain.

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