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Coles and Woolworths have been dominating the groceries market over the last five to six decades till the beginning of 2001. This type of market structure is called as Duopoly and the firms in duopoly have market power in setting their prices at which the commodities are sold. However in this type of market structure, consumers are at the mercy of the two sellers, as they can be dominated by price increases due to the power of these suppliers. In this essay we would discuss the major highlights of the duopoly market and how far these two supermarkets have been dominating the groceries market in Australia till the entry of Aldi and how the entry of Aldi has changed the pricing and selling decisions of the two dominant players.
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