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Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn
Edition 18ISBN: 9780073365954Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn
Edition 18ISBN: 9780073365954 Exercise 22
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 What are the shortcomings of the kinked-demand model
Explanation
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In an oligopolistic market there are two...
Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn
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