Focus Question 1 – interstate and intrastate Why are interstate and intrastate telecommunications regulated by different agencies? Focus Question 2 – revenue requirement What do the terms revenue requirement, rate base, rate of return, price cap really mean and how do they apply to telecommunications? Focus Question 3 – rate-of-return regulation Give a formula for rate-of-return regulation and explain its advantages and disadvantages. Focus Question 4 – Plant depreciation and rate-of-return regulation? How is plant depreciation handled in rate-of-return regulation? Focus Question 5 – Price Cap Regulation Give a formula for price-cap regulation and explain its advantages and disadvantages