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The television broadcast industry consists of just a few very large companies. Despite the large number of different channels & shows available on-the-air and on-cable, only 5 corporations account for over 90% of all shows. There are significant barriers to entry. The firms have large staffs devoted to researching what their competitors are planning to do. What market structure best describes this industry?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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