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Worldwide Knee/Hip Market Share 2005 (%) 2006 (%) 2007 (%) 2008 (%) 27

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Worldwide Knee/Hip Market Share 2005 (%) 2006 (%) 2007 (%) 2008 (%) 27.9 27.5 27.2 26.0 24.0 23.9 22.9 22.9 Zimmer Johnson & Johnson (DePuy) Stryker Smith & Nephew Biomet 21.6 21.4 21.5 21.3 9.4 9.8 11.5 12.6 11.5 10.9 10.9 11.3 Source: Company reports and Morningstar estimates. The above table shows global market share of artificial knee/hip industry in 2005-08. Which of the following best describes the industry? Select one: O A. The industry has low barriers to entry and faces substantial threat of substitutes. O B. The industry has high barriers to entry and infrequent introduction of new products. O C. Firms in the industry face strong bargaing power of buyers and produce undifferentiated products.