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zar zar
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4 years ago
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.
Textbook 
Essential Economics for Business

Essential Economics for Business


Edition: 5th
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Antoinette12Antoinette12
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4 years ago
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zar Author
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4 years ago
Just got PERFECT on my quiz
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Correct Slight Smile TY
emilyas19
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2 hours ago
this is exactly what I needed
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