duopoly

Definition

When two or more companies produce the same type of product or service in the same market sector.

Use duopoly in a sentence

I learned about duopoly and how it meant that two, or more companies were producing the same kind of product.

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With enough luck and pluck, we hoped to rise up to our competitors level and perhaps reach a duopoly in the market.

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The duopoly reflected the brand elasticity of the consumers in the region as they only cared about the functionality of the product.

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