A Market Comprised of Only Two Firms Is Called a

question 35

Multiple Choice

A market comprised of only two firms is called a

• A)competitive market.
• B)duopoly.
• C)monopoly.
• D)monopolistically competitive market.

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Definitions:

Liabilities

Financial obligations or debts that a company or individual owes to others.

Title

A legal term that signifies ownership rights over property, assets, or an interest in property or assets.

Destination Contracts

Agreements where the seller is responsible for delivering goods to a specific place, and risk of loss does not pass to the buyer until the goods reach that location.

Identification

The process of recognizing or establishing the identity of a person or thing.