Multiple Choice
A prediction from the kinked demand curve model of oligopoly is that, for an individual firm, small changes in
A) demand will lead to changes in price or output.
B) marginal revenue will lead to changes in price and output.
C) marginal cost will lead to changes in price and output.
D) marginal cost will not lead to changes in price or output.
Correct Answer:
Verified
Correct Answer:
Verified
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