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Would you expect the kinked demand curve to be more extreme (like a right angle) or less extreme (like a normal demand curve) if each
Would you expect the kinked demand curve to be more extreme (like a right angle) or less extreme (like a normal demand curve) if each firm in the cartel produces a near-identical product like OPEC and petroleum? What if each firm produces a somewhat different product? Explain the reasoning behind your answer
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