Which of the Following Statements Is Correct for an Oligopoly

question 11

Multiple Choice

Which of the following statements is correct for an oligopoly firm with a kinked-demand curve?

• A)It will increase its total revenue by raising its price but lower it by decreasing its price.
• B)It will decrease its total revenue by raising its price but raise it by decreasing its price.
• C)It will increase its total revenue by either raising or lowering its price.
• D)It will decrease its total revenue by either raising or lowering its price.
• E)Its total revenue will not change regardless of whether it raises or lowers its price.

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Definitions:

Autonomous Morality

The stage in child development where children start to understand that rules and laws are created for people's mutual benefit and can be negotiated.

Preconventional Moral Reasoning

A stage in Kohlberg's theory of moral development characterized by decision-making based on direct consequences to oneself, such as punishment or reward.

Conventional Moral Reasoning

A stage in moral development where individuals make judgments based on conforming to social rules and the expectations of others.

Autonomous Morality

The stage in moral development when individuals base their moral judgments on principles that transcend societal and parental rules.