Responses
Centralization of ownership has led to an industry controlled by a few large companies.
Centralization of ownership has led to an industry controlled by a few large companies.
There are many innovative entrepreneurs in the media.
There are many innovative entrepreneurs in the media.
It is impossible for any company to compete with a local media company.
It is impossible for any company to compete with a local media company.
Government licensing allows media companies to have a near monopoly.
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The statement that best explains why the media industry is characterized by an oligopolistic market structure is:
Centralization of ownership has led to an industry controlled by a few large companies.
This emphasizes the concentration of media ownership among a limited number of firms, which is a key feature of oligopoly, as it allows these companies to exert significant control over the market and influence on content.
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