Minimum 150 words. This is a discussion question, not a paper, per se. Cite all workSTEP ONE. Watch first these two videos:Lecture 10. Regulation of Natural Monopoly. http://youtu.be/mt_S0vUvZQ4Episode 28. Regulation of a Monopoly. http://youtu.be/lZfbZDK0hLw STEP 2. Watch these videos.Milton Friedman. Monopoly. http://youtu.be/tdLBzfFGFQUMilton Friedman. Government Regulations. http://youtu.be/Biu7bJAfVNISTEP 3. Compare and contrast Steps One and Two. Do you find discrepancies?STEP 4. Write your opinions on Milton’s opinions about the need of Government monopoly regulation. He was a brilliant professor and a Nobel Prize. His opinions were polemic and not always shared,