In the Kinked-Demand Model of Noncollusive Oligopoly,each Firm Thinks the Demand

question 155

Multiple Choice

In the kinked-demand model of noncollusive oligopoly,each firm thinks the demand curve below the going price is:

• A) more elastic than the demand curve above the going price.
• B) less elastic than the demand curve above the going price.
• C) more elastic than the marginal revenue curve above the going price.
• D) less elastic than the marginal revenue curve above the going price.

---

Definitions:

Two-Column Format

A method of organizing information or data in two vertical columns to compare and contrast, categorize, or list attributes and values side by side.

Recall Column

A method used in note-taking and study to help remember key facts or concepts by summarizing them in a dedicated column.

Lecture

A method of teaching by giving a discourse on a particular subject, intended for a large audience, typically in a university or college setting.

Outline Format

A structured representation of the main points and supporting details of a written work or speech, organized hierarchically to guide development.