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:

Shunt Field

A winding in electrical generators or motors that is connected parallel to the armature, influencing the magnetic field.

Armature

The rotating part of an electric machine, such as a motor or generator, within which voltage is induced by magnetic action.

Magnetic Field

A region around a magnetic material or a moving electric charge within which the force of magnetism acts.

DC Machine

An electrical machine that operates on direct current (DC) and includes both motors and generators.