Economy, asked by fotomaniaindia, 10 months ago

kinked demand curve

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Answered by Anonymous

1

Answer:

In an oligopolistic market, the kinked demand curve hypothesis states that the firm faces a demand curve with a kink at the prevailing price level. The curve is more elastic above the kink and less elastic below it. This means that the response to a price increase is less than the response to a price decrease.

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