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Title: The kinked demand theory of oligopoly is NOT a theory of price determination since Post by: zar on May 19, 2020 The kinked demand theory of oligopoly is NOT a theory of price determination since
▸ it does not explain how the market price is determined in the first place. ▸ prices are never stable in oligopoly markets. ▸ it assumes that firms contemplating price changes tend to ignore competitive reactions. ▸ it assumes that firms never follow a competitor's price increases. Title: The kinked demand theory of oligopoly is NOT a theory of price determination since Post by: Antoinette12 on May 19, 2020 Content hidden
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