<p>The definition of a monopoly is one company having the exclusive control of a good or service. Since there are 2+ companies it does not fit the definition of a monopoly.</p>

<p>A duopoly is a situation where 2 companies control the majority of the market. It sounds like this describes your situation.</p>

<p>A more correct term may be oligopoly which describes a market where a small limited number of entities controls the majority of the market. If there is a 3rd company which controls the remaining 25% market share this may be the most correct term but otherwise a duopoly is probably the correct definition.</p>

CC BY-SA 4.0
2018-12-19T02:27:34.127Z
2018-12-19T02:27:34.127Z
TheSaint321
<p>Could you help me to identify monopoly, because I got confused. There is a company with market share of 54 %. The second one has market share of 21 %.
Can this market be characterized as monopoly or maybe duopoly? Thanks in advance.</p>

<microeconomics><stock-market><monopoly><competition><dominant-strategy>
Is this market monopoly or duopoly?
Mika
# Is this market monopoly or duopoly?

(Asked by: username_0 on 2018-12-18)

Could you help me to identify monopoly, because I got confused. There is a company with market share of 54 %. The second one has market share of 21 %.
Can this market be characterized as monopoly or maybe duopoly? Thanks in advance.

**Tags:** microeconomics, stock-market, monopoly, competition, dominant-strategy


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## 1 answers

### Answer by username_1 on 2018-12-19. Score: 1

The definition of a monopoly is one company having the exclusive control of a good or service. Since there are 2+ companies it does not fit the definition of a monopoly.

A duopoly is a situation where 2 companies control the majority of the market. It sounds like this describes your situation.

A more correct term may be oligopoly which describes a market where a small limited number of entities controls the majority of the market. If there is a 3rd company which controls the remaining 25% market share this may be the most correct term but otherwise a duopoly is probably the correct definition.


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