Question
A market in which there are a few number of large firms is called as
Answer: Option D
Answer: (d)
Duopoly means a market in which two producers of the same good are predominantly powerful. In some theories, the term is used specifically to denote the existence of only two suppliers of a good.
Competition refers to a condition in a market in which firms are attempting to increase their profits at the expense of their rivals.
Oligopoly refers to a market that is dominated by a few firms producing differentiated products.
Monopoly refers to a market in which there is only one supplier and no other firms are able to enter. According to the Fair Trading Act, 1973, a Monopoly is defined as any firm (or group of firms acting together) that accounts for 25 per cent or more of the market output of a good or service.
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Answer: (d)
Duopoly means a market in which two producers of the same good are predominantly powerful. In some theories, the term is used specifically to denote the existence of only two suppliers of a good.
Competition refers to a condition in a market in which firms are attempting to increase their profits at the expense of their rivals.
Oligopoly refers to a market that is dominated by a few firms producing differentiated products.
Monopoly refers to a market in which there is only one supplier and no other firms are able to enter. According to the Fair Trading Act, 1973, a Monopoly is defined as any firm (or group of firms acting together) that accounts for 25 per cent or more of the market output of a good or service.
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