Lenovo, HP, Dell, Acer Group, and Apple dominate 70% of the world market for personal computers). Smaller competitors survive by focusing on providing unique products / services that meet the needs of select sub-segments in these industries. This type of competitive interaction illustrates:

Oligopoly

Explanation:

Oligopoly is simply defined as the situation in which more than two firms own/control the largest market share, while other smaller firms contend for the remaining share of the market.

For better understanding;

In this type of competition (Oligopoly), the smaller firms survive by offering unique features in their products and services while some offer cheaper prices for their products and services.

9.50 times

Explanation:

The computation of the accounts payable turnover ratio  is shown below:

= Total purchase ÷ average accounts payable

where,  

Average accounts payable = (Opening balance of Accounts payable + ending balance of Accounts payable) ÷ 2

= ($48,000 + $40,000) ÷ 2

= $44,000

And, the total purchase is $418,000

Now put these values to the above formula  

So, the answer would be equal to  

= $418,000 ÷ $44,000

= 9.50 times