Examlex
How does the kinked demand curve model of oligopoly explain the strategic interdependence between ?rms?
Weber's Law
A principle in psychology that proposes the smallest change in a stimulus that can be detected is proportional to the intensity of the original stimulus.
Sensation Strength
The intensity level at which a stimulus is perceived, influenced by physical properties and individual sensitivity.
Psychological Magnitude
A concept in psychology that refers to the perceived size, amount, or intensity of a psychological attribute.
Weber Fraction
A principle stating that the just noticeable difference between two stimuli is proportional to the magnitude of the stimuli, a fundamental concept in psychophysics.
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