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:

Derived Score

A statistical measure calculated from raw data, often used to compare individual performance to a normative group.

40th Percentile

A statistical measure indicating that 40 percent of the population falls below a particular value or performance level, commonly used to assess and compare individual scores or characteristics.

Standardized Test

An examination administered and scored in a consistent manner across different individuals to measure their educational achievement or other attributes.

Mathematical Component

A part or aspect that involves mathematics or numerical calculations.