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:

Internal Environment

The conditions and processes within an organism that contribute to its functioning.

Stimuli

External or internal agents that provoke a response in living organisms or individual cells.

Cellular Respiration

The series of metabolic processes by which living cells produce energy through the oxidation of organic substances.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in the air and is absorbed by plants in photosynthesis.