A Weakness of the Kinked Demand Curve Model of Oligopoly

question 181

Multiple Choice

A weakness of the kinked demand curve model of oligopoly is

• A)that marginal costs are frequently changing.
• B)it assumes that firms are reluctant to change prices.
• C)the marginal revenue curve is kinked at the market price.
• D)it does not explain how prices are determined.

Recognize the role of culture in shaping consumer behavior and attitudes towards products.

Understand the significance of cultural taboos, morals, and norms in regulating behavior and maintaining social order.

Understand the differences between primary and secondary sex characteristics in both males and females.

Comprehend the current state of research regarding the origins of sexual orientation, including genetic factors.

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Definitions:

Organization's People

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Training Administration

The process of overseeing and managing training programs, resources, and logistics to ensure effective learning and development of employees.

On-The-Job Training

A method of training where employees learn and develop skills while working, through observation, instruction, and practice.

Technical Skills

Specific abilities or knowledge that is required to perform particular tasks, especially relating to technological or scientific fields.