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-In Exhibit L-3, Representing the Demand Curves That Make Up

Question 20

Multiple Choice

-In Exhibit L-3, representing the demand curves that make up the kinked demand curve, D<sub>1</sub> is the A) demand curve applicable to any price increase above $50 B) demand curve applicable to any price decrease below $50 C) demand curve facing firms when a cartel is formed D) market demand curve E) demand curve facing the price leader
-In Exhibit L-3, representing the demand curves that make up the kinked demand curve, D1 is the


A) demand curve applicable to any price increase above $50
B) demand curve applicable to any price decrease below $50
C) demand curve facing firms when a cartel is formed
D) market demand curve
E) demand curve facing the price leader

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