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What assumptions about the rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there the gap in the oligopolist's marginal-revenue curve? How does the kinked-demand curve describe price rigidity in oligopoly? What are the shortcomings of the kinked-demand model?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9306470

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