A Prediction from the Kinked Demand Curve Model of Oligopoly

question 202

Multiple Choice

A prediction from the kinked demand curve model of oligopoly is that, for an individual firm, small changes in

• A)demand will lead to changes in price or output.
• B)marginal revenue will lead to changes in price and output.
• C)marginal cost will lead to changes in price and output.
• D)marginal cost will not lead to changes in price or output.

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Definitions:

Uniqueness

The quality of being one of a kind, distinct from all others in specific or subtle ways.

Abnormal

A term used to describe behaviors or conditions that deviate from what is considered normal or typical within a given society or culture.

Childhood Feelings

Emotions experienced during the early years of life, often influencing one's behavior, personality, and emotional health in adulthood.

Freud

Sigmund Freud was an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.