Final answer:
The deregulation of the telecommunications industry was enabled by technological advancements allowing more firms to use the same infrastructure, which led to benefits such as more consumer choice and cheaper services, but also potential negatives such as less competition and privacy concerns.
Step-by-step explanation:
The deregulation of the U.S. telecommunications industry was made possible by advancements in technology such as microwave transmission, communications satellites, and other wireless technologies.
These innovations allowed multiple firms to use the same transmission mechanisms, reducing the need for monopolies like AT&T to provide national service.
Benefits of deregulation include more consumer choice, reduced cost for long-distance calls, and overall better-quality phone service. Meanwhile, negatives might include reduced regulation of service quality and prices, potential market domination by a few large companies leading to less competition, and issues related to privacy and data security.
A corporate merger is when two companies combine to form a new entity, while an acquisition is when one company buys another. Both are ways in which companies can grow or consolidate within an industry.