Duopoly is a market structure in which there are only two dominant firms that control a significant portion of the market share for a particular product or service. These firms typically compete with each other, but they also have the power to influence market prices and limit competition. In a duopoly, both firms are interdependent and their actions can have a direct impact on each other's profits. Examples of duopolies include companies like Coca-Cola and Pepsi in the soft drink industry or Boeing and Airbus in the commercial aircraft industry.
