In which form of market, there are only two firms producing a commodit
Right Answer is: B
• Monopoly- It is a form of market where there is only one firms producing a commodity.
• Duopoly- It is a form of market where there are only two firms producing a commodity.
• Oligopoly- It is a form of market where there are more than two firms producing a commodity/commodities.
• Monopolistic competition- It is a form of market which combines elements of both monopoly and competitive markets. It is a market where a firm have freedom of entry and exit, but firms can differentiate their products.