Question

Griffin Labs and Sequence Labs are in competition in the same seven regional markets. This is an example of:

a) Horizontal integration
b) Vertical integration
c) Market concentration
d) Market penetration

Answer 1

Griffin Labs and Sequence Labs being in competition in the same seven regional markets is an example of market concentration. The correct option is C)

Step-by-step explanation:

The situation described in the question, where Griffin Labs and Sequence Labs are in competition in the same seven regional markets, is an example of market concentration. Market concentration refers to the degree to which a market or industry is dominated by a few large firms. It indicates intense competition between the firms in those regional markets.