Question: Small Processors Ltd, Really Small Processors Inc., and I Lost the Processor LLC, are the three largest firms in the microprocessor industry and collectively hold

Small Processors Ltd, Really Small Processors Inc., and I Lost the Processor LLC, are the three largest firms in the microprocessor industry and collectively hold close to 90 percent of the industry's market share. The entry barriers to the industry are significant and no company is overly concerned with new entrants. These companies mainly compete against each other by providing unique features in their products and increasing switching costs, rather than compete on price. These firms are interdependent, and each firm must consider the strategic actions of its competitor, not just the demands of their customers, when deploying strategic initiatives. Which of the following industry competitive structures does this scenario best illustrate?

a. perfect competition

b. oligopolic competition

c. monopolistic competition

d. competitive isomorphism

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