The figure illustrates the market shares of the main video-streaming services. Based on this information, answer the

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The figure illustrates the market shares of the main video-streaming services.

Subscriptions to on-demand video services in the United States in 2017 Share of consumers aged 12+ 60% 40%

Based on this information, answer the following questions:

a. The on-demand video industry is most accurately described as which type of market structure: perfect competition, monopolistic competition, oligopoly, or monopoly?

b. Explain why Netflix and Amazon have market power in this industry. Do they benefit from limited competition, product differentiation, or both?

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Introduction To Chemical Principles

ISBN: 9780321814630

11th Edition

Authors: H. Stephen Stoker

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Question Posted: Nov 24, 2023 05:16 AM

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The figure illustrates the market shares of the main video-streaming services. Based on this information, answer the

Question:

Subscriptions to on-demand video services in the United States in 2017 Share of consumers aged 12+ 60% 40% 20% 0% 50% 29% Data from: Statista.com. 14% Netflix Amazon Prime Hulu Stevenson/Wolfers, Principles of Economics, 1e, 2020 Worth Publishers

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a Based on the given information the ondemand video industry is most accurately described as an olig...View the full answer

Introduction To Chemical Principles

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