The kinked demand curve model of oligopoly assumes that Options: A . &nbspResponse to a price increase is less than the response to a price decrease B . &nbspResponse to a price increase is more than the response to a price decrease C . &nbspElassticity of demand is constant regardless of whether price increases or decreases D . &nbspElasticity of demand is perfectly elastic if price increases and perfectly inelastic if price decreases

The kinked demand curve model of oligopoly assumes that

Question

The kinked demand curve model of oligopoly assumes that

Options:

A . Response to a price increase is less than the response to a price decrease

B . Response to a price increase is more than the response to a price decrease

C . Elassticity of demand is constant regardless of whether price increases or decreases

D . Elasticity of demand is perfectly elastic if price increases and perfectly inelastic if price decreases

Answer: Option A

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