Question

Magical Productions is a large production company that controls a major portion of the television industry's market share along with two other firms. Despite its competitiveness with the two other firms, it is influenced by their actions and often has to consider their strategic actions before acting on its own. In this scenario, Magical Productions is most likely functioning in a(n) _____ industry.

Answer 1

Answer: Oligopolistic

Explanation:

The oligopolistic industry is one of the type of market structure where the small industries or the companies are compete with each other and earning the various types of economical profits.

The main purpose of this type of industry is that it help[s in reducing the competition in the market and also control the market share function.

According to the given scenario, the magical production is one of the type of large production organization and this company perform various types of functioning in the Oligopolistic industry.

Therefore, Oligopolistic is the correct answer.