Which of the following is a result of oligopoly in the music industry?

Question

Quizplus · Accepted Answer

In an oligopoly, a small number of firms dominate the market and have the power to influence prices and products. In the music industry, a few major record labels control the majority of the market, leading to a homogenization of music that caters to the mainstream tastes of consumers. Therefore, choice A is a result of oligopoly in the music industry. The increasing wealth of successful artists (choice B) may be a result of their popularity, but it is not directly related to oligopoly. The power of music journalists over artists (choice C) and music executives (choice D) are not necessarily a direct result of oligopoly, but rather a reflection of the influence of media and individual personalities.

Which of the Following Is a Result of Oligopoly in the Music