Meaning of “duopoly” in the English Dictionary

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"duopoly" in Business English

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duopolynoun [ C, usually singular ]

uk /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” from the Cambridge Business English Dictionary © Cambridge University Press)