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The music industry is dominated by a few large firms which dominate the market, thus enabling the industry to exert its market influence. They also partake in collusion to ensure that barriers to entry into the music industry remain high for new firms to enter. The characteristics of an oligopoly are as follows:
Few, large number of firms dominate the market.
High barriers to entry
Long run abnormal profits
Price makers- have the ability to determine market price.
Maximise profits where MC=MR.
The music industry fits into the above characteristics and therefore is considered to be an oligopoly.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agobeacuse of the big five companies
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Is container shipping industry monopoly or oligopoly market?
The container shipping industry is an example of an oligopoly market. While there are not many companies that provide container shipping services, there are more than one. The industry would only be a monopoly market if only one company provided the services.
What is the market structure of the steel automobile industry?
That would be an oligopoly.
What would economists describe the US automobile industry as?
an oligopoly
What type of industry with 20 firms has a concentration ratio of 30?
this would be considered to be a low Oligopoly market
An example for each of the 4 market structures Pure competition monpolistic competition oligopoly monopoly Examples and why those companies are that market would be great?
a. c. b. d.
Is container shipping industry monopoly or oligopoly market?
The container shipping industry is an example of an oligopoly market. While there are not many companies that provide container shipping services, there are more than one. The industry would only be a monopoly market if only one company provided the services.
What is the market structure of the steel automobile industry?
That would be an oligopoly.
What would economists describe the US automobile industry as?
an oligopoly
What type of industry with 20 firms has a concentration ratio of 30?
this would be considered to be a low Oligopoly market
If Taylor were to not be in the music industry what would she do?
porn
How many artists has the music industry produced?
The music industry has been going for so many years that it would be almost impossible to say how many artists it has produced.">">The music industry has Produced a different number of artists to the number of artists it has supported. Someone produced (or manufactured) would be Justin Bieber, someone supported would be blur.
Around how many signatures would you need to change rules of the Canadian Music Industry?
There is no amount of signatures (on the part of private citizens) that can force the rules of the Canadian music industry to change. However, any private citizen can send a petition to the House of Commons (having at least 25 signatures) to request that Parliament take action on a particular issue (for example, to change the rules of the Canadian music industry). Any such petition would not, however, bind the House of Commons to take an action.
Who is the most beautiful singer and songwriter?
I would say that Gwen Stefani is the most beautiful singer-songwriter in the music industry today. Before her, I would say Debbie Harry was the most beautiful woman in the music industry.
What is a good place to look for music production jobs?
One good to look for available jobs in the music production industry would be A&R Rep/Talent Scout. A few other ways to find jobs in the music production industry would a Concert Promoter, a Music Journalist/Critic, a Music Teacher, a Music Therapist, a Studio Musician, or a Sound/Recording Engineer.
What would be a good job for a music lover?
A roadie. A music producer, musician. Sound techinican, sound engineer, tour manager. Anything in the music industry.
How important is a singer?
a singer is important because without singers there would be no entertainment there would also be no music industry
An example for each of the 4 market structures Pure competition monpolistic competition oligopoly monopoly Examples and why those companies are that market would be great?
a. c. b. d.
