A Duopoly Is

question 64

Multiple Choice

A duopoly is

• A)a cartel in which all members try to cheat on the cartel.
• B)an industry with only two sellers.
• C)an industry with only two buyers.
• D)a cartel with only two members.

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Definitions:

Depression

A severe and prolonged downturn in economic activity, marked by significant declines in income, employment, and production, often more severe than a recession.

Gross Investment

The total amount spent on purchasing or constructing new capital goods over a specific time period, without accounting for depreciation.

Net Investment

Net investment refers to the total amount spent on purchasing new capital minus the depreciation on existing capital, indicating the growth of a company or economy's productive capacity.

Capital Goods

Long-lasting goods acquired and used by businesses to produce other goods and services, contributing to their operational capabilities.