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Imperfect competition and Duopoly model.

Imperfect competition: "When all or some of the conditions of perfect market are not present the market will be called imperfect market. " In such a market individual firms or sellers are capable of influenceing the price of the commodity. Imperfect market may be in the form of: 1) Monopolistic Competition 2) Monopoly 3) Duopoly 4) Oligopoly In this video I will explain Duopoly please watch and listen my perfect competition,Monopolistic Competition and Monopoly videos. Duopoly: Duopoly is a situation in which two firms posses all of the market for a given product or service. Both the firms have complete over the production and supply of a good. Pure Duopoly: If two firms are producing the homogenous good under duopoly it is called pure duopoly.