Duopoly is a market structure in which there is/are ___________.

a single firm in the market

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few firms in the market

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two firms in the market

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more firms in the market

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Solution

The correct option is C two firms in the market
Duopoly is a market structure where there are only two sellers in one market. It is that market which is dominated by small number of companies. Hence, duopoly is a market structure in which there are few firms in the market.

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Similar questions

Q. A market situation in which there are only few firms producing slightly differentiated products which are close substitutes is _______.

There are three firms A, B and C in a market. The supply schedule for the market and that for firms A and B is given below. Prepare the supply schedule for firm C.

$\begin{matrix} Price & Firm A & Firm B & Firm C & Market supply 10 & 0 & 25 & 35 20 & 10 & 30 & 60 30 & 20 & 35 & 85 40 & 30 & 40 & 110 50 & 40 & 45 & 135 60 & 50 & 50 & 160 \end{matrix}$

Q. A market structure in which many firms sell products that are similar but not identical is known as _________.

The market demand in a duopoly market is p= 30 -1.5 q. If the firms collude to form a cartel, how much would each firm supply? Assume that the cost of production is negligible for both firms.

Q.
There is a high degree of interdependence among firms in the oligopoly form of market.

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Duopoly is a market structure in which there is/are ___________.

The correct option is C two firms in the marketDuopoly is a market structure where there are only two sellers in one market. It is that market which is dominated by small number of companies. Hence, duopoly is a market structure in which there are few firms in the market.

The correct option is C two firms in the market
Duopoly is a market structure where there are only two sellers in one market. It is that market which is dominated by small number of companies. Hence, duopoly is a market structure in which there are few firms in the market.