Question

Vibgyor TV Inc. is a large production company that controls a major portion of the movie 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, Vibgyor TV Inc. is most likely functioning in a(n) _____ industry.

Answer 1

Answer:

Oligopolistic industry or market

Explanation:

Oligopoly is one of the form of marketing where the industry or the market which is dominated through a small number of the large sellers. In this form of market, it could result from various or multiple forms of collusion and it reduce or decrease the competition and in turn lead to the higher prices of the product for the consumers.

So, in this case, the company is the larger production of the products which controls the major portion of the industry or market share. And they are the one who act on its own. Therefore, in this scenario, is the functioning of oligopolistic market.