A Two Firm Oligopoly Is Known as a

question 62

Multiple Choice

A two firm oligopoly is known as a

• A) duopoly.
• B) cartel.
• C) monopoly.
• D) contestable market.

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Definitions:

Room Nights

A measure in the hospitality industry, representing the total number of nights that guests have booked to stay in a hotel.

Break-Even Point

The point at which total revenues equal total costs, resulting in neither profit nor loss.

Programmable Watch

A wristwatch with smart capabilities that can be programmed for various functions beyond timekeeping, such as fitness tracking or notifications.

Variable Cost

Expenses that change in proportion to the activity of a business.