I need help with A and B Answer the following questions based on the information provided.a. The on-demand video industry is most accurately described as which type of market structure?Monopolyb. Netflix and Amazon havelimited competition -in this market. In addition, both companies offer aThese characteristics are a source offor both companies.differentiated producteconomies of scalehomogenous productmarket power Market Structure and Market Power- End of Chapter ProblemConsider the data the accompanying figure regarding the share of consumers who had a subscription to an on-demand videoservice in the United States in 2017.Share of consumers aged 12+60%50%40%29%20%14%0%NetflixAmazon PrimeHuluStevenson/Wolfers, Principles of Economics, 1e, © 2020 Worth PublishersData from: Satista.comAnswer the following questions based on the information provided.a. The on-demand video industry is most accurately described as which type of market structure?

a. From the above graph, we can say that the top three firms have 93% market power of an on-demand…

Answer the following questions based on the information provided. a. The on-demand video industry is most accurately described as which type of market structure? Monopoly b. Netflix and Amazon have limited competition in this market. In addition, both companies offer a These characteristics are a source of for both companies. differentiated product economies of scale homogenous product market power

Answer the following questions based on the information provided. a. The on-demand video industry is most accurately described as which type of market structure? Monopoly b. Netflix and Amazon have limited competition in this market. In addition, both companies offer a These characteristics are a source of for both companies. differentiated product economies of scale homogenous product market power

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 5PA

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