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A market dominated by two suppliers controlling pricing, supply, services, etc. is called
  • a)
    Monopsony
  • b)
    Oligopoly
  • c)
    Duopoly
  • d)
    Monopoly
  • e)
    oligopsony
Correct answer is option 'C'. Can you explain this answer?
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A market dominated by two suppliers controlling pricing, supply, servi...
A duopoly is a form of oligopoly occurring when two companies control all or most of the market for a product or service. Duopolies sell to consumers in a competitive market where the choice of an individual consumer cannot affect the firm. There are two principal duopoly models -- Cournot duopoly and Bertrand duopoly.
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Directions: Study the following information carefully and answer the given questions:Seven people, Siraj, Asif, Junaid, Mohit, Deepak, Roshan and Abhay, voluntarily donated some amount to a charity which works for the education of orphan kids. These seven people also chose to teach the kids for a few hours, they taught on different days of the week from Monday to Sunday. The minimum amount that can be donated is Rs. 1000 and also no two people donated the same amount.The person who taught on Thursday donated Rs. 1800 more than Junaid. Average donation made by people who taught the kids on Monday and Saturday is Rs. 2000, also a difference in their donation is Rs. 1000. Difference between donation of Deepak and Abhay is Rs. 1600, Abhay is not the highest donor. Asif taught three days after Roshan and his donation is four times as that of Roshan. Deepak taught the students three days after Abhay but two days before the person who donated Rs. 4200. Junaid taught four days after Siraj and his donation is double as that of Siraj. Donation made by Deepak is double as that of Mohit.Q. Who donated the least amount?

Directions: Study the following information carefully and answer the given questions:Seven people, Siraj, Asif, Junaid, Mohit, Deepak, Roshan and Abhay, voluntarily donated some amount to a charity which works for the education of orphan kids. These seven people also chose to teach the kids for a few hours, they taught on different days of the week from Monday to Sunday. The minimum amount that can be donated is Rs. 1000 and also no two people donated the same amount.The person who taught on Thursday donated Rs. 1800 more than Junaid. Average donation made by people who taught the kids on Monday and Saturday is Rs. 2000, also a difference in their donation is Rs. 1000. Difference between donation of Deepak and Abhay is Rs. 1600, Abhay is not the highest donor. Asif taught three days after Roshan and his donation is four times as that of Roshan. Deepak taught the students three days after Abhay but two days before the person who donated Rs. 4200. Junaid taught four days after Siraj and his donation is double as that of Siraj. Donation made by Deepak is double as that of Mohit.Q. What is the highest amount donated to the NGO?

Directions: Study the following information carefully and answer the given questions:Seven people, Siraj, Asif, Junaid, Mohit, Deepak, Roshan and Abhay, voluntarily donated some amount to a charity which works for the education of orphan kids. These seven people also chose to teach the kids for a few hours, they taught on different days of the week from Monday to Sunday. The minimum amount that can be donated is Rs. 1000 and also no two people donated the same amount.The person who taught on Thursday donated Rs. 1800 more than Junaid. Average donation made by people who taught the kids on Monday and Saturday is Rs. 2000, also a difference in their donation is Rs. 1000. Difference between donation of Deepak and Abhay is Rs. 1600, Abhay is not the highest donor. Asif taught three days after Roshan and his donation is four times as that of Roshan. Deepak taught the students three days after Abhay but two days before the person who donated Rs. 4200. Junaid taught four days after Siraj and his donation is double as that of Siraj. Donation made by Deepak is double as that of Mohit.Q. What is the average donation by the people who taught the kids on Monday and Sunday?

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A market dominated by two suppliers controlling pricing, supply, services, etc. is calleda)Monopsonyb)Oligopolyc)Duopolyd)Monopolye)oligopsonyCorrect answer is option 'C'. Can you explain this answer?
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