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What is a monopoly?  An economic definition

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This short video goes over what a monopoly is, with reference to market structure, and discusses the three conditions that need to hold with examples. More info is available at http://www.freeeconhelp.com/2011/06/what-is-monopoly-continuing-market.html

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-price discrimination: because of prices and the low quality of the energy Xcel provides it has gained a lot of pressure form Minnesotans to produce cleaner energy.

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- Single seller(kind of): Even though there are other energy companies Xcel can get exclusive rights to service in a city by a local government - the city of Woodbury
- high barriers to enter: because of local right from governments and the resources needed it's hard to start an energy company, so this makes Xcel one of the most prominent energy producers in the Midwest.

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Xcel energy is a natural monopoly, due to the exclusive rights to service municipalities through local governments, which make it hard to get in to.

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A monopoly is an economic market structure where a specific person or enterprise is the only supplier of a particular good.

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-Profit maximizer
-Price make
-High barriers to entry
-Single seller
-Price discrimination