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In this paper, a study is presented of the dynamic behavior of an automatic transmit power control (ATPC) loop in a single fixed wireless system (FWS) link subject to multipath fading and an uncorrelated co-channel interferer that does not use ATPC (this represents a so-called non-ATPC FWS link or a fixed satellite link). Fundamental questions include the sensitivity of an ATPC link to multipath interference and the co-channel interference that may be caused by a non-ATPC interferer. In the context of the present project, a good example of a non-ATPC interferer is a fixed satellite to which one antenna in a fixed microwave link has partial view. A computer model was developed that constitutes a useful tool in describing; simulating and analyzing an ATPC loop in a single FWS link. With the aid of this model, results are presented on the sensitivity of an ATPC loop in a FWS link with respect to channel conditions, non-ATPC interference and parameter settings.