system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why are power companies in the US allowed to hold monopolies on the areas they service?
gpt
Because each electric company would need to install their own wires, which makes it costly to enter the market and also if multiple companies did, would mean there would be electrical wires and cables everywhere. The government decided the best thing to do would be allow monopolies but closely regulate them so they don't exploit the customers.