The Coca-Cola and Pepsi represent a duopoly because the two firms control almost the entire market for cola beverages.
What is Duopoly?
A duopoly is a situation where two companies together own all, or nearly all, of the market for a given product or service. It is a most basic form of oligopoly, a market dominated by a few companies.
In a duopoly, two competing businesses control the majority of the market sector for a particular product or service they provide. A business can be part of a duopoly even if it provides other services that do not fall into the market sector in question.
Learn more about Duopoly here,
https://brainly.com/question/17205622
#SPJ1
