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· Two firms in the industry

· Strong control over price.

· Uses Non price competition to compete

· Very strong Barriers to entry

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Q: What are the characteristics of a Duopoly market structure?
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What is the duopoly market structure?

A duopoly is a special type of oligopoly in which the market has only two firms. There are two general categories of duopoly: Cournot and Bertrand.


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