A market situation in which there are only two producers is called ........

A market situation in which there are only two producers is called :

Monopoly

Duopoly

Oligopoly

None of these

- Option 1: Monopoly

- A market structure with only one producer or seller.

- The sole producer dominates, setting prices and output without competition.

- Option 2: Duopoly

- Correct Answer

- Characterized by only two producers or sellers in the market.

- Both producers influence market dynamics through competition.

- Option 3: Oligopoly

- Features a few dominant producers, typically more than two.

- Companies tend to influence prices collectively, often leading to strategic interactions.

- Option 4: None of these

- This option is incorrect as "Duopoly" correctly describes two producers in the market.

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