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1、I.Fillintheblankswithappropriatewords:1.Economiesofscaleareahighlyprevalentfeatureofthemediaindustry.Itexistsinanyindustrywheremarginalcostsarelowerthanaveragecosts.Whenthecostofprovidinganextraunitofagoodfallsasthescaleofoutputexpands,theneconomiesofscalearepresen
2、t.Economiesofscopearecommonlycharacteristicofmediaenterprises,whichistodowiththepublic-goodnatureofmediaoutputandachievedthroughmulti-productproduction.2.Themostusualmethodofmeasuringthedegreeofoligopolyinamarketisbyapplyingaconcentrationratio.Inthemediasector,this
3、conceptlevelscanbecalculatedonthebasisofaudienceshares(asdefinedbyratingsorreadershipfigures).3.Bythemid-1940s,theJusticeDepartmentdemandedthatthefivemajorfilmcompanies–Paramount,WarnerBrothers,TwentiethCenturyFox,MGM,andRKO–endverticalintegration.In1948,afteraseri
4、esofcourtappeals,theSupremeCourtruledagainstthefilmindustryinwhatiscommonlyknownastheParamountDecision,forcingthestudiostograduallydivestthemselvestotheirtheatres.4.Mediafirmshavebeenjoiningforcesatafasterpacethaneverbefore.Theyhavebeeninvolvedintakeovers,mergersan
5、dotherstrategicdealsandalliances,notonlywithrivalfirmsinthesamebusinesssector,butalsowithfirmsinotherindustrieswhicharenowseenascomplementarybusinessareas.Atleastthreemajorstrategiesofcorporategrowthcanbeidentifiedanddistinguished:horizontalexpansion,verticalexpans
6、ionanddiagonalexpansion.1.Firmsoftenuseadvertisingtoputupbarrierstomarketentrywhichpreventotherfirmsfromcompetingwiththem.Advertisingisafeatureofoligopolymarketstructures.Onemethodofkeepingoutpotentialnewentrantsiscalled‘brandproliferation’—allthepotentialnichesare
7、alreadyoccupied.Thelargerthenumberofdifferentiatedproductsalreadybeingsoldbyexistingoligopolists,thesmallerthemarketavailabletoanewfirmenteringwithasinglenewproduct.Anothermethodisheavyadvertising–ameansofimposinghighset-upcostsonnewentrantsandthis,inturn,servestod
8、eterwould-berivals.2.Theabilityofproducerstoexploitcopyrighteffectivelymaydependonhowmarketpowerisdistributedalongtheverticalsupplychainthatstret
