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Understanding tipping requires analysis of
Marginal Cost
The cost added by producing one additional unit of a product or service.
Kink
A sudden change in the rate or direction of a curve or line, often used in economics to describe a sharp change in a demand or supply curve.
Kinked Demand Curve
A demand curve that has a distinct bend or kink, typically used in oligopoly models, suggesting that a firm will face different elasticities for price increases versus price decreases.
Lower Prices
A decrease in the cost of goods or services, often resulting in increased demand or consumer purchasing power.
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