A duopoly is defined as an industry with _____.
A)two distinct types of buyers
B)two sellers
C)multiple product lines
D)a homogeneous product

Question

Quizplus · Accepted Answer

A duopoly is an industry with only two sellers. The term "duo" means two, and "poly" implies that it's a market structure with few sellers. Therefore, option B is the correct answer. Options A, C, and D are incorrect because they do not accurately define a duopoly.

A Duopoly Is Defined as an Industry with _____