Question

define equilibrium in duopoly market​

Answer 1

Answer:

A duopoly (from Greek δύο, duo (two) + πωλεῖν, polein (to sell)) is a type of oligopoly where two firms have dominant or exclusive control over a market. It is the most commonly studied form of oligopoly due to its simplicity. Duopolies sell to consumers in a competitive market where the choice of an individual consumer can not affect the firm. The defining characteristic of both duopolies and oligopolies is that decisions made by sellers are dependent on each other.

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Explanation:

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Answer 2

Answer:

Equilibrium is the state in which market supply and demand balance each other, and as a result prices become stable.