In 1996, the television networks were given $70 billion worth of space on public airways for broadcasting

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In 1996, the television networks were given $70 billion worth of space on public airways for broadcasting high-definition television rather than auction it off.
a. Why do airways have value?
b. After the airway had been given to the network, would you expect that the broadcaster would produce high-definition television?
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Macroeconomics

ISBN: 978-0077307110

8th edition

Authors: David Colander

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