The Existence of a Kinked Demand Curve Under Oligopoly Conditions

question 9

Multiple Choice

The existence of a kinked demand curve under oligopoly conditions may result in

• A)price flexibility.
• B)price rigidity.
• C)competitive pricing.
• D)None of the above

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Definitions:

Negligence

A failure to exercise appropriate and/or ethical ruled care expected to be exercised amongst specified circumstances, leading to harm or damage.

Reasonable Person

A legal standard used to determine how an average person would responsibly act under similar circumstances.

Society Expect

The anticipations or beliefs regarding behavior, norms, or achievements considered standard or desirable by a community or group.

Duty Of Care

Duty of care is a legal obligation to act with a certain level of attention, caution, and prudence to avoid harm to others or their properties.