Business entities that operate in a dual market structure is termed as Duopoly.
A duopoly is a market situation that entails two competing companies that share the market. A pure duopoly is a market where there are just two firms.
A duopoly exists when two companies dominate a market for a given product or service. A duopoly can have the same impact on the market as a monopoly if the two players collude on prices or output.
Hence, dual market structure operated by Business entities is termed as Duopoly
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