Multiple Choice
The reason that oligopoly firms may have a kinked demand curve is due to
A) the greater likelihood of price matching when a firm chooses to raise prices.
B) the greater likelihood of price matching when a firm chooses to lower prices.
C) wildly fluctuating prices for the product on the market.
D) very consistent elasticity of demand for a firm's product regardless of price.
Correct Answer:
Verified
Correct Answer:
Verified
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