In the Kinked-Demand Curve Variant of Oligopoly Theory,what Output Will

question 137

Multiple Choice

In the kinked-demand curve variant of oligopoly theory,what output will the firm produce?

• A)Where marginal cost equals marginal revenue.
• B)Where demand is elastic.
• C)Where demand is inelastic.
• D)Where marginal cost equals average cost.

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Definitions:

Ventral

Relating to the body's front or anterior part, and the opposite of the dorsal side.

Internal Nares

Openings located inside the nasal cavity, also known as choanae, they connect the nose to the throat.

Nasopharynx

The upper part of the throat located behind the nose, connecting the nasal cavity to the throat and playing a role in respiration and vocalization.

Epiglottis

A flap of cartilage located at the root of the tongue, which is depressed during swallowing to cover the opening of the windpipe.