Economy, asked by fizzahmalik06, 9 months ago

Explain the non-collusive oligopoly through kinked demand theory.

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Answered by PriyanshuDAV

6

Answer:

Sweezy uses kinked demand curve to describe price rigidity in oligopoly market structure. ... In other words, every price increase will go unnoticed by rivals. ADVERTISEMENTS: On the other hand, if one firm reduces the price of its product other firms will follow the first firm so that they must not lose customers.

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