Actually you were referring to a telephone directory monopoly if you want to get technical and you are wrong on both fronts, first when a telephone monopoly existed the technology didn’t exist to have multiple hard wire companies in one area, the internet is what expanded that. Also, you complain about telephone companies raking people over the coals for ad rates but there was never a telephone book monopoly. 3rd party publishers existed for a long time before people flocked to the internet. You can’t fault a telephone company for charging high rates for ad’s when the people themselves choose to use the phone book from the company that provided their phone service.
I’ll stay away from the doctors since I know little to nothing about residency and board requirements.
So having a monopoly isn’t a competitive game changer in your book? The yellow book rates should have been regulated just like the phone rates. Once a monopoly is given, it is incumbent upon regulators to regulate. The customers were paying the company to receive annual phone books, so every dollar of ad revenue was profit. All competitors would clearly be on different ground.