This document provides an overview of duopoly, which is defined as a market situation where two companies control nearly all of the market for a given product or service. Key points made include:
- A duopoly has two firms that have strong price control and create barriers to entry for new competitors.
- Advantages can include close competition between the two firms, but disadvantages include the difficulty of new firms entering the market and a potential lack of innovation.
- Examples given of duopolies include Boeing and Airbus in passenger airplanes, and Amazon and Apple in e-books.