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English definition of “duopoly”

duopoly

noun [C, usually singular] /djuˈɒpəli/ US   /duˈɒpəli/ (plural duopolies) ECONOMICS
a situation in which only two companies control all the business in a particular industry: The merger would clearly create a duopoly in the industry.
the two companies that control all the business in a particular industry: It was their magazine that was hardest hit by the duopoly's falling out.
(Definition of duopoly noun from the Cambridge Business English Dictionary © Cambridge University Press)

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