When a Market Is Dominated by Only Two or a Few

question 88

True/False

When a market is dominated by only two or a few large firms, the industry is said to be a duopoly or oligopoly.

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Definitions:

Third-degree Burns

Severe burns that damage all layers of the skin and possibly underlying tissues, requiring specialized medical treatment.

Primary Intention

A method of healing where the wound edges are directly next to each other, allowing for minimal scarring.

Second Intention

Healing by secondary intention involves wound closure by scar formation and contraction rather than primary direct edges.

Full-thickness Wound

A type of injury that penetrates through the dermis and affects deeper tissues, often requiring significant medical treatment.