The Dog with Its Ears Up and Forward and with a Wagging

question 5

Multiple Choice

The dog with its ears up and forward and with a wagging tail is showing characteristics of a __________ dog.

• A) happy
• B) scared
• C) old
• D) aggressive

---

Definitions:

Kinked Demand Curve

A demand theory in oligopolistic markets where firms face a steeper demand curve for price increases and a flatter curve for price decreases due to competitive pricing behaviors.

Price Cuts

Reductions in the selling price of goods or services, often used as a strategy to increase demand or market share.

Profit-Maximizing Firm

A business whose primary objective is to achieve the highest possible profits through its operations and investments.

Market Share

The part of the market under the control of a specific company or product.