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The kinked demand curve theory suggests that a firm is likely to keep its price unchanged unless ...

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The kinked demand curve theory suggests that a firm is likely to keep its price unchanged unless ...

The kinked demand curve theory suggests that a firm is likely to keep its price unchanged unless there are substantial shifts in revenue or cost curves. A kinked demand curve is shown in the following diagram.

The kink is due to the firm's belief that its competitors

▸ will set a price at the kink of the demand curve.

▸ will match all price increases and reductions.

▸ will match any price increase it makes but will not match a price reduction.

▸ will not match a price increase but will match any price reduction.

Textbook

Essential Economics for Business

Edition: 5^th

Authors: Sloman, Jones

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Isack

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More solutions for this book are available here

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stevengu246 Author

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Correct

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kriggs62

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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