171k views
24 votes
Within the music industry, four companies (UMG, Sony-BMG, EMI, and Warner) control 90 percent of the music you hear. The music industry operates in a(n) _____ market structure.

User Wotney
by
8.3k points

1 Answer

3 votes

Answer:

oligopoly

Step-by-step explanation:

From the question we are informed about the music industry with four companies (UMG, Sony-BMG, EMI, and Warner) control 90 percent of the music you hear. In this case the music industry operates in

oligopolistic market structure. Oligopolistic market can be regarded as a market structure whereby there is small number of firms in the market and they have similar products/services to offer. In this market only few of the firms are ruling the majority of the Market, and there is little compitition.

User Mardon
by
8.0k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.