In 2012,the four major retailers of online music include the iTunes,Spotify,Amazon,and Google Music.In terms of the form of competition,this industry is an example of a(n)__________.
A)monopoly
B)mega monopoly
C)pure competition
D)oligopoly
E)monopolistic competition

Question

Quizplus · Accepted Answer

The fact that there are only four major players in the online music retail industry indicates that it is an oligopoly, which is a market structure where a few large firms dominate the market. This is different from pure competition, where there are many small players with no one firm having a significant market share, and monopolistic competition, where there are many firms with differentiated products. It is also not a monopoly or a mega monopoly, as there are multiple firms competing with each other.

In 2012,the Four Major Retailers of Online Music Include the ITunes,Spotify,Amazon,and