The public utility that produces and provides electricity would raise the total cost of production for all and force their profits to zero. A company that functions as a public-service corporation and offers basic services to the general public, such as electricity, telephone service, natural gas, water, or postal services, is referred to as a public utility.
The phrase "public utility" may also refer to the actual service or good, such as water, gas, sewage, etc., that these companies offer to the general public. A natural monopoly generally includes a public utility. A natural monopoly is one that develops when economies of scale make serving customers.
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