A "Duopoly" Is

question 53

Multiple Choice

A "Duopoly" is:

• A)The closest structure to Imperfect competition
• B)When there are essentially only two competitors in an industry.
• C)The closest structure to Perfect competition
• D)When a firm has a monopoly in two industries at the same time.

---

Definitions:

Legal Bankruptcy

A legally declared inability or impairment of ability of an individual or organization to pay its creditors, which can lead to a legal process for resolution.