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Just a simple economic question: what ia the market structure of electricity retail market? In my...

Just a simple economic question: what ia the market structure of electricity retail market?

In my opinion i think is monpoly competion because it has few market and hard new enery.

Just ask for opinions thx

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Answer #1

Answer : Electricity retail market is an example of natural monopoly. High infrastructure cost and high entry barrier exist in natural monopoly. Due to high entry barrier the electricity company provide the whole market supply of electricity. When selling of electricity unit increase then the infrastructure cost decrease because average cost continuously spread to overall production level. The electricity company also charge high price for per electricity unit based on demand. As a result, the electricity company always earn super normal profit. Hence the electricity market is a market structure of natural monopoly.

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