In the U.S., city governments usually grant a monopoly right to a single cable company to provide cable service to people in that city; i.e., if you want television service to your house delivered through coaxial or fiberoptic cahle, there is only one company from which to choose. |[l'ur definition of perfectly competitive markets stressed three characteristics: 1} small firms each producing a small percentage of total output, 2) firms produce homogeneous products, and 3] easy entry and exit from the industry. Recent developments in the industry (say, over the past decade} have made the cable market much more competitive. Present an argument why the cable industry may now satisfy each of these three criteria, even despite the obvious governmentgranted monopoly