In 2014, the gaming console market was worth more than $14 billion. Sony had approximately 50% of the
market, Microsoft had about 30%, and Nintendo had 20%. Both the Sony Playstation 4 and Microsoft Xbox
One play Blu-ray movies, but the Nintendo Wii does not. However, the Wii pioneered motion control,
allowing players to interact physically with the action on the screen. How would you describe this oligopoly?
a large number of small firms selling differentiated products
a small number of large firms selling a homogeneous product
a small number of large firms selling differentiated products
a large number of small firms selling a homogeneous product