CNBC Special on Google, Facebook, and Amazon(Links to an external site.)

https://youtu.be/hwgENRr1xto

Watch this 11 min. video and then answer the following questions. I expect a minimum of one paragraph per answer. Use ideas from the chapters we have covered.

1. What are the purposes of anti-trust laws?
2. Explain the rise of anti-trust laws in the late 19^th
3. How did anti-trust laws shift after WW1? (WW1 ended in 1918)
4. What does the documentary mean that anti-trust laws depend on politics more than any other area of law?
5. Why did anti-trust enforcement shift again after WWII? (This was the Peak Enforcement Era that culminated in the break-up of AT&T. At its height of power ATT&T controlled all phone service in U.S. You could not even own a private phone!)
6. What was the "consumer welfare standard" that changed anti-trust enforcement after AT&T?
7. Give examples from the video of increased market shares in different industries by 2019.

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Use concepts like:

• Opportunity cost
• Supply and demand
• Advantages of competition (both allocative and productive efficiency)
• What determines a market power
• Characteristics of monopolies
• Disadvantages of monopolies
• How monopolies can be regulated
• Incentives
• Unintended consequences

These are just some of the terms/concepts that areexamplesof what a very good paper would use. This is your opportunity to show me you learned how to think like an economist.