👉 A duopoly is a market structure in which there are two or more firms that control at least as much of the total market share. In other words, it means there are two or more companies that produce or sell identical products in the same market place and they compete with each other to set prices and gain profit margins. Duopolies can occur in various industries such as retail, telecommunications, automotive, energy, etc. They are often characterized by a high degree of concentration of production capacity and/or
