A Market with Only Two Firms Is Called a

question 92

Multiple Choice

A market with only two firms is called a

• A) duopoly.
• B) two-firm monopolistic competition.
• C) two-firm monopoly.
• D) cartel.
• E) two-firm quasi monopoly.

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Definitions:

Observations

The act of recording data or information gathered from scientific or statistical study.

Millions

A numerical count or quantity equivalent to one thousand thousands or 10^6.

Standard Deviation

A measure of the dispersion or variability of a set of numbers, indicating how spread out the numbers are from their average value.

Units

Basic quantities used to specify measurements in various dimensions, such as length, mass, or time.