Moonsub Jung

ECON-2010-501-F20

Dr. Sherry Jensen

2020-12-11

E-portfolio

The U.S. telecommunications industry is an oligopoly. Because four large companies compete to
produce 70 to 80 percent output, it isn't easy to enter the market. There is an entry barrier.

The U.S. telecommunications market has no power for new operators to compete with existing large
carriers. Here are some reasons.

First, it is not easy to establish a new carrier because it requires government approval to transmit voice,
data, and video over the airwaves.

And second, Frequency licenses are limited and, therefore, quite expensive. Furthermore, building a
network infrastructure requires significant capital expenditure. The FCC concluded its first 5G spectrum
auctions in the 28 GHz band, the 24 GHz band, and the upper 37 GHz, 39 GHz, and 47 GHz, bands. With
these auctions, the FCC releases almost five gigahertz of the 5G spectrum into the market—more than
all other flexible use bands combined. AT&T, Verizon, and T-Mobile would only bid $2 billion to $4
billion in total for the rights. That's why very few companies can afford it. Thus, this barrier protects the
interests of existing operators.

I have never thought about microeconomics in my life Because my major is Accounting, and I don't think
they are not involved. But I changed my perspective. Microeconomics focuses on resource allocation
and distribution, and I believe accounting also focuses on resource allocation and distribution.

Also, I could think about microeconomics in my life critically and creatively by sharing opinions with
people who take the same class. It was too good to share and communicate microeconomics examples
that can be seen in their respective views and lives through discussion.
As I mentioned earlier, I have never thought properly about microeconomics in my life. But I changed
my perspective. I found that microeconomics had a significant impact on society.

All activities changed my mind. Through the discussion, I discovered the microeconomics of real life that
I had never thought of those things. Also, drawing a graph helped a lot. Because I could understand
much more quickly and in more detail than just reading. And I could think about microeconomics in my
life critically and creatively by sharing opinions with people who take the same class. It was also good to
share and communicate examples of microeconomics that can be seen in their respective views and
lives through discussion. Through discussions, we were also able to develop our ability to share opinions
and think in different directions.