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.

Question

Quizplus · Accepted Answer

The music industry, with four companies controlling 90 percent of the market, operates in an oligopoly market structure. This is characterized by a small number of firms dominating the market, which is the case here.

Within the Music Industry, Four Companies (UMG, Sony-BMG, EMI, and Warner)