Question

If the soda industry has a 4 firm concentration ratio of 94%, and the publishing/novels industry has a 50% 4 firm concentration ratio, one would conclude the soda industry is most likely a _________ industry, while the publishing/novels industry is most likely a _________ industry.

Answer 1

1. Oligopoly

2. Monopolistic competition

Step-by-step explanation:

Oligopoly is a state of limited competition, in which a market is shared by a small number of producers or sellers.

Monopoly is the exclusive possession or control of the supply of or trade in a commodity or service.