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Use the Kinked Demand Curve Diagram to Illustrate and Describe

question 10

Essay

Use the kinked demand curve diagram to illustrate and describe why prices are often sticky in an oligopoly market.


Definitions:

Groundwater

Water that fills the cracks and spaces in underground soil and rock layers, accounting for a significant portion of the Earth's fresh water.

Saltation

A process in which wind-blown or water-borne particles are lifted briefly into the air or water and then settle back down, causing a hopping or skipping motion.

Hydrologic Cycle

The hydrologic cycle describes the continuous movement of water on, above, and below the surface of the Earth, through processes such as evaporation, condensation, precipitation, and infiltration.

Groundwater

Water held underground in the soil or in pores and crevices in rock.

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