I may have asked this before, but I don't recall getting a response:
How can there be any realistic competition between phone books? The Yellow Pages are subsidized by the local, perhaps monopolistic phone company. Couldn't the regular Yellow Pages blow away the competition by cutting advertising rates below what is profitable in order to run the other phone books (Donnelly directory, the New yellow pages) out of business? Ie, why doesn't cross-subsidy deter competitors in the world of phone books? Fabio
