dual monopoly
/ˈduːəl mɒnəˈpɒli/ · dual.mon.op.o.ly
noun
- A market situation where two entities have complete control over the supply of a product or service, often resulting in reduced competition and higher prices. The dual monopoly in the tech industry led to a significant increase in prices for consumers.
noun
- A situation where two entities have exclusive rights or control over a particular market or industry, often leading to reduced competition and innovation. The dual monopoly in the energy sector limited the entry of new players and stifled innovation.
Did you know? The concept of dual monopoly is often studied in the context of antitrust laws and their application in various industries, with the goal of promoting competition and preventing the abuse of market power.