Lecture on Duopoly Models

General purpose of this lecture is to present on Duopoly Models. Duopoly is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over a market. Classical and modern economists have developed a variety of models based on different behavior assumptions. In the field of industrial organization, it is the most commonly studied form of oligopoly due to its simplicity.