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1、I.Fillintheblankswithappropriatewords:1.Economiesofscaleareahighlyprevalentfeatureofthemediaindustry.Itexistsinanyindustrywheremarginalcostsarelowerthanaveragecosts.Whenthecostofprovidinganextraunitofagoodfallsasthescaleofoutputexpands,theneconomiesofscalearepresent.Economiesofscopearecommonlych
2、aracteristicofmediaenterprises,whichistodowiththepublic-goodnatureofmediaoutputandachievedthroughmulti-productproduction.2.Themostusualmethodofmeasuringthedegreeofoligopolyinamarketisbyapplyingaconcentrationratio.Inthemediasector,thisconceptlevelscanbecalculatedonthebasisofaudienceshares(asdefin
3、edbyratingsorreadershipfigures).3.Bythemid-1940s,theJusticeDepartmentdemandedthatthefivemajorfilmcompanies–Paramount,WarnerBrothers,TwentiethCenturyFox,MGM,andRKO–endverticalintegration.In1948,afteraseriesofcourtappeals,theSupremeCourtruledagainstthefilmindustryinwhatiscommonlyknownastheParamoun
4、tDecision,forcingthestudiostograduallydivestthemselvestotheirtheatres.4.Mediafirmshavebeenjoiningforcesatafasterpacethaneverbefore.Theyhavebeeninvolvedintakeovers,mergersandotherstrategicdealsandalliances,notonlywithrivalfirmsinthesamebusinesssector,butalsowithfirmsinotherindustrieswhicharenowse
5、enascomplementarybusinessareas.Atleastthreemajorstrategiesofcorporategrowthcanbeidentifiedanddistinguished:horizontalexpansion,verticalexpansionanddiagonalexpansion.1.Firmsoftenuseadvertisingtoputupbarrierstomarketentrywhichpreventotherfirmsfromcompetingwiththem.Advertisingisafeatureofoligopolym
6、arketstructures.Onemethodofkeepingoutpotentialnewentrantsiscalled‘brandproliferation’—allthepotentialnichesarealreadyoccupied.Thelargerthenumberofdifferentiatedproductsalreadybeingsoldbyexistingoligopolists,thesmallerthemarketavailabletoanewfirmenteringwithasinglenewproduct.Anothermethodisheavya
7、dvertising–ameansofimposinghighset-upcostsonnewentrantsandthis,inturn,servestodeterwould-berivals.2.Theabilityofproducerstoexploitcopyrighteffectivelymaydependonhowmarketpowerisdistributedalongtheverticalsupplychainthatstret
