duopoly
/duːˈɑːpəli/
noun
- A situation in which two companies or entities control all or most of the market for a product or service.
- A duopoly can lead to higher prices because there is little competition.
- The government investigated whether the duopoly in the telecom sector was harming consumers.
- The soft drink market is a classic duopoly, with Coca-Cola and Pepsi dominating.
Antonyms