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:

Red Herring

Something, especially a clue, that is or is intended to be misleading or distracting.

Defensive Behavior

Actions or reactions aimed at protecting oneself from perceived threats or criticisms.

Office Politics

The complex, strategic dynamics and relationships within a workplace, often involving power and influence tactics among colleagues.

Organization Games

Strategic actions by individuals or groups within organizations to gain personal or group advantage, often in unconstructive or unethical ways.