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Questions
State the features of duopoly.
State any two features of duopoly.
Short Answer
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Solution
- Each seller is fully aware of his rival’s motive and actions.
- Both sellers may collude (they agree on all matters regarding the sale of the commodity).
- Two Large Producers
- They may enter into cutthroat competition.
- There is no product differentiation.
- They fix the price for their product with a view to maximizing their profit.
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Notes
Students should refer to the answer according to their question.
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