Use the Following Scenario to Answer the Following Questions

question 33

Multiple Choice

Use the following scenario to answer the following questions:
Kit-N-Sit and Kittysitters are two cat-sitting services in Kent,Ohio.There are no other cat-sitting services,so the market is considered to be a duopoly.
-According to the kinked demand curve theory,if Kit-N-Sit increases prices,Kittysitters will

• A) do nothing and leave prices unchanged.
• B) sue Kit-N-Sit for monetary damages in court.
• C) respond aggressively by increasing prices.
• D) split the company into two different companies: Kit and Sit.
• E) respond aggressively by cutting prices.

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Definitions:

Haitian Vodou

A syncretic religion that combines elements of West African, Catholic, and Native American traditions, practiced predominantly in Haiti.

Syncretic Religious System

A religious or belief system that combines elements from different religious traditions and practices.

Industrial Societies

Societies in which human labor, hand tools, and animal power are largely replaced by machines, with an economy primarily based on mass production in large factories.

Shamans

Individuals regarded as having access to, and influence in, the spirit world, who typically use trance states to heal or divine for their community.