Define natural monopolies.
Explain how natural monopolies are established.
Explain the justification for natural monopolies according to economic theory.
Provide an example to support your explanations.
Summarize the four major pieces of legislation collectively known as the Antitrust Laws.
Identify the three main regulatory commissions of industrial regulation.
Explain how these regulatory commissions govern industrial regulation.
Explain the major functions of the five primary federal regulatory commissions that govern social regulation