Business, 09.09.2020 21:01 dangolstein03

Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet, smaller travel agencies started mushrooming in the industry and customers started making their own reservations. Which of the following can be inferred from this information? Multiple Choice The travel industry changed from a consolidated structure to a fragmented one. The pricing power of the incumbent firms in the travel industry has increased. The structure of the travel industry changed from monopolistic competition to an oligopolistic one. The bargaining power of buyers in the travel industry has decreased.

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