One of the Implications of the Kinked Demand Curve Model

question 89

True/False

One of the implications of the kinked demand curve model is that even if a firm's costs change by a measurable amount,market price is unlikely to change.This helps explain the price rigidity observed in many oligopolistic markets.

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Definitions:

Frequency Distribution

A frequency distribution is a summary table that shows the frequency or count of each possible value in a dataset, typically used to observe the distribution patterns.

Sample

A subset of individuals or observations selected from a larger population, used to infer or make generalizations about the whole group.

Married

A legal and social status denoting a recognized union, typically between two people, that is often formalized through a wedding ceremony.

Frequency Distribution

A representation, either in graphical or tabular form, showing how often each different value in a set of data occurs.