Examlex
Por qué comen los españoles doce uvas a medianoche?
Kinked-Demand Curve
A demand curve that has a distinct bend or "kink" at a certain price level, often used to describe price stability in oligopolistic markets.
Highly Elastic
Refers to a market condition where the demand or supply for a product responds very significantly to changes in its price.
Highly Inelastic
Describes a situation where the quantity demanded or supplied of a good changes by a very small amount in response to changes in price.
Monopolistically Competitive
A market structure characterized by many firms selling similar but not identical products, with some control over prices.
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