5. NetiX seems like a spectacular company with a spectacular CEO. It has successfully moved from mail-order CD's to become a programmer of online shows and movies. lts revenues are growing in excess of 25% per year, and it's earning are growing too. However, at its current stock price Netix is selling for a price/earnings ratio of over 60. The only way that I can believe that a PE ratio that high can be justied is if there are either natural monopoly or returns-to- scale advantages in the industry. a. Can you identify any characteristics of online movie production/distribution that would allow you to characterize the industry as no size advantage, a returns-toscale industry, or a natural monopoly industry? Please explain. (5) b. Given your analysis in a., can you identify any developments in the online movie/show distribution industry that support your conclusion from a