ated monopoly for almost 100 years. Local telephone services are currently controlled by a handful of RBOCs who have not been known for innovation or cost cutting. Under this new Act, local service was now open for competition. Other companies are permitted to build their own local telephone facilities and offer services to customers. However, building entirely new facilities are prohibitively expensive. Under the Act, existing RBOCs would have to offer their telephone services to other companies (e.g., AT&T) at wholesale prices. These other companies will then resell the services to consumers at retail prices in competition with the RBOC. The wholesale prices are set by state regulatory agencies and typically ar
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