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Questions
In this chapter, we have discussed various types of market structure. However, there are other types of markets as well. What do you understand by the following type of market:
Duopoly
What is Duopoly?
Very Short Answer
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Solution
A duopoly is a type of market structure where only two firms sell a particular product. It is considered a specific form of oligopoly, representing the simplest or most limited version of that broader market structure.
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Chapter 9: Forms of Market - TEST YOURSELF QUESTIONS [Page 185]
