According to the Kinked Demand Curve Model, an Oligopolist May

question 227

Multiple Choice

According to the kinked demand curve model, an oligopolist may face

• A)more elastic demand than a monopolistic competitor.
• B)less elastic demand than a monopolistic competitor.
• C)more elastic demand if she raises her price than if she lowers her price.
• D)less elastic demand if she raises her price than if she lowers her price.

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Definitions:

Hereditarianism

The theory that genetic inheritance is a primary determinant of human traits including intelligence, personality, and behavior.

Free Will

Free will refers to the belief that humans have the power to make choices that aren't predicated solely by biology or external forces.

Heredity

The genetic transmission of traits from parents to offspring.

Predict

To declare or indicate in advance; especially, to foretell based on observation, experience, or scientific reasoning.