ECONOMICS- Case

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February 19th, 2023

Please answer the following questions based on “The Web’s New Monopolists” by Justin Fox. (ATTACHED)1. Do you believe that the web/network-based monopolies that Fox discusses are fundamentally different from traditional monopolies in terms of (a) consumer substitutability, and (b) barriers to entry? Why or why not? Explain briefly.2. Do you believe society would gain or lose if these monopolies’ practices were regulated in any dimension? Consider issues like overcharging, incentives for innovation, exclusion of competition, and any other ones you think may be important.Two to three pages-double spaced.

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