Multiple Choice
Assume that an oligopolist has a kinked demand curve. Suppose that the marginal cost curve passes through the gap in the marginal revenue curve. This means price and output will be shown by a point:
A) above the curve.
B) below the curve.
C) at the kink.
D) on the upper part of the curve.
Correct Answer:
Verified
Correct Answer:
Verified
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