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Business, 07.09.2021 01:30 samantaisabel6015
The theory of the kinked demand curve is that
a. although the firm sells a differentiated product, too many competitors exist to make it worthwhile speculating on responses to the firm's behavior.
b. freedom of entry will reduce profits to zero.
c. a firm's competitors will follow it in a price decrease but not follow it in a price increase.
d. firms are all seeking the position of joint profit maximization.
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The theory of the kinked demand curve is that
a. although the firm sells a differentiated product,...
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