A Kinked Demand Curve Indicates That Rival Oligopolists Match All

question 131

Multiple Choice

A kinked demand curve indicates that rival oligopolists match all

• A)Increased advertising.
• B)Advertising reductions.
• C)Price increases.
• D)Price reductions.

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Definitions:

Original Bundle

In economics, this term refers to a specific combination of goods held by a consumer before any changes in constraints, such as budget or prices.

Price Of X

Refers to the monetary value or cost required to purchase a specific good or service denoted as "X".

Price Of Y

The cost at which a particular good, referred to as "Y" in economic models, is sold or purchased in the market.

Commodity 1

an economic term referring to a raw material or primary agricultural product that can be bought and sold, denoted here as the first in a series or category.