A Duopoly Is a Market Structure in Which

question 81

Multiple Choice

A duopoly is a market structure in which:

• A) two consumers buy the product.
• B) two firms sell the product.
• C) one firm sells the product and one consumer buys the product.
• D) two firms sell the product and two consumers buy the product.

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Definitions:

Primary Reason

The main or most important cause or motive behind an action, decision, or situation.

Lose Customers

The process by which a business experiences a reduction in its customer base due to various factors such as poor service, high prices, or better competition.

Management Team

A group of individuals at the top level of an organization who are responsible for making strategic decisions and ensuring the company achieves its goals.

Competitive Advantage

A condition or unique attribute that allows a company to outperform its competitors, securing a superior position in the market.