Final Answer:
Buying out or destroying smaller competitors in a single industry is an example of: (C) Horizontal integration
Step-by-step explanation:
Horizontal integration occurs when a company acquires or eliminates competitors within the same industry or at the same stage of production. Choosing option C reflects the scenario where larger companies buy out or destroy smaller competitors in the same industry. This strategic move aims to strengthen the acquiring company's market position, reduce competition, and potentially achieve cost efficiencies.
It differs from vertical integration (Option D), where a company seeks control over different stages of the supply chain, and from monopoly (Option A), which involves complete dominance in a specific market. Oligopoly (Option B) refers to a market structure with a small number of large firms, but it does not specifically involve the elimination of competitors.
Option C) Horizontal integration is answer.