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Q. |
A market in which there are a few number of large firms is called as |
A. | Duopoly |
B. | Competition |
C. | Oligopoly |
D. | Monopoly |
Answer» C. Oligopoly | |
Explanation: Duopoly means a market in which two producers of the same good are predominantly powerful. In some theries, the term is used specifically to denote the existence of only two suppliers of a good. |
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