A two-firm oligopoly is called a
A) double monopoly.
B) cartel.
C) duopoly.
D) monopolistic oligopoly.
E) dual-market.

Question

Quizplus · Accepted Answer

A two-firm oligopoly is called a duopoly. A duopoly is a market condition in which two firms dominate the market for a particular product or service. The firms in a duopoly typically have a high degree of interdependence, meaning that their decisions and strategies are closely tied to one another.

A Two-Firm Oligopoly Is Called a