7. What assumptions about a rivals response to price changes underlie the kinked-demand curve for oligopolists? Why
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7. What assumptions about a rival’s response to price changes underlie the kinked-demand curve for oligopolists? Why is there a gap in the oligopolist’s marginal-revenue curve? How does the kinked-demand curve explain price rigidity in oligopoly? LO5
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Related Book For
Essentials Of Economics
ISBN: 9780073511313
2nd Edition
Authors: Stanley L. Brue, Campbell R. McConnell, Sean M. Flynn
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