An example of a(n) _______________is the music industry, in which a few giant companies are behind many of the labels and artists known to consumers.

Question

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An oligopoly is a market structure in which a few large firms dominate the market. In the case of the music industry, a few giant companies control the majority of the market share, giving rise to an oligopoly. A monopoly, on the other hand, is a market structure in which only one firm dominates the market, which is not the case in the music industry. A conglomerate is a company that consists of multiple, unrelated businesses, which does not accurately describe the music industry. A shared monopoly refers to a market in which a few firms agree to control the market together, which is also not the case in the music industry.

An Example of A(n) _______________Is the Music Industry, in Which