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26. According to the theory of the kinked demand curve, if a firm were to lower its price, its competitors would (LO3) a) lower theirs

26. According to the theory of the kinked demand curve, if a firm were to lower its price, its competitors would (LO3) a) lower theirs b) raise theirs c) keep theirs the same 27. The kinked demand curve depicts (LO3) a) cutthroat competition b) cartels c) collusive oligopoly d) price leadership

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