Economics of Monopoly Power

Go to the Tools& Data section of the Federal Communications Commission’s (FCC) Website, located athttp://www.fcc.gov, to review its major initiatives and the role those initiatives play in encouraging competition in communication markets and protecting the public.

Take a position on whether or not the current initiatives of the FCC encourage competition in all communication markets and protect the public. Provide specific examples to support your response.

List and discuss three economic justifications for government regulation in your local area. Explain what happens if the government does not provide appropriate regulation. Determine the costs on society of government regulation.

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