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According The Kinked Demand Curve Model. Keep their prices constant. Firms dont want to cut prices because they will start a price war where they dont gain. Analysis of the Kinked Demand Curve Model. D None of the above because in the kinked demand curve.
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C the firm will ignore price cuts by rivals but will match their price increases. Sweezy an American economist and by Hall and Hitch Oxford economists. In case of pure oligopoly the kinked demand curve does not provide adequate explanation for price rigidity. According to the Bertrand model a firm will assume that rival firms will. In the oligopoly model under discussion the properties of the kinked demand curve as well as its significance are especially discussed. The kinked demand curve model seeks to explain the reason of price rigidity under oligopolistic market situations.
Completely inelastic above the prevailing price.
Firms dont want to cut prices because they will start a price war where they dont gain. The kinked demand curve model seeks to explain the reason of price rigidity under oligopolistic market situations. B an abrupt change in price elasticity occurs. In case of pure oligopoly the kinked demand curve does not provide adequate explanation for price rigidity. The model of the kinked demand curve suggests prices will be stable. Firms match price increases but not price cuts.
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Explain how the model works. Demand is more elastic for price cuts than for price increases. 14 The kinked demand curve model A suggests that price will remain constant even with fluctuations in demand. In this model the demand curve perceived by the firm is kinked because of the assumption that rival firms will match a price cut to avoid loss of market share but will ignore a price increase to gain market structure. Match price cuts but not price increases.
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Explain how the model works. Firms dont want to cut prices because they will start a price war where they dont gain. A kink may exist in an oligopolists demand curve because. According to the kinked demand curve model if it lowers its prices because costs decrease its competitors will. Firms match price increases but not price cuts.
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Sweezy an American economist and by Hall and Hitch Oxford economists. Keep their rates of production constant. Changes in marginal cost can never lead to changes in market price. Explain how the model works. Firms dont want to cut prices because they will start a price war where they dont gain.
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Tap again to see term. Demand is more elastic for price cuts than for price increases. The kink in the demand curve occurs because rival firms will behave differently to price cuts and price increases. According to the kinked demand curve model a firm will assume that rival firms will. When a demand curve is elastic.
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Firms dont want to increase prices because they will see a sharp fall in demand. The kinked demand curve model assumes that. One example of a kinked demand curve is the model for an oligopoly. Keep their rates of production constant. A kinked demand curve occurs when the demand curve is not a straight line but has a different elasticity for higher and lower prices.
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B has the same slope as the curve just above the existing price. C assumes that marginal revenue equals marginal cost only at the quantity at the kink D assumes that competitors will match price cuts and ignore price increases. Price leadership represents a situation where oligopolistic firms. The kinked-demand curve model of oligopoly is useful in explaining why oligopolistic prices might change infrequently. In case of pure oligopoly the kinked demand curve does not provide adequate explanation for price rigidity.
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Firms dont want to cut prices because they will start a price war where they dont gain. Firms match price increases but not price cuts. Match price cuts but not price increases. Demand is more elastic for price cuts than for price increases. People make decisions when each is acting in his or her own best interest and have strategies that may yield different outcomes.
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B assumes marginal cost is constant. Explain how the model works. In the oligopoly model under discussion the properties of the kinked demand curve as well as its significance are especially discussed. Therefore to understand the kinked demand curve model it is important to note the reactions of rival organizations on the price changes made by. Price leadership represents a situation where oligopolistic firms.
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The kinked demand curve model seeks to explain the reason of price rigidity under oligopolistic market situations. B an abrupt change in price elasticity occurs. According to the kinkeddemand theory each firm will face two market demand curves for its product. In this model the demand curve perceived by the firm is kinked because of the assumption that rival firms will match a price cut to avoid loss of market share but will ignore a price increase to gain market structure. The kinked demand curve describes price rigidity.
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In the oligopoly model under discussion the properties of the kinked demand curve as well as its significance are especially discussed. The kinked demand curve describes price rigidity. Analysis of the Kinked Demand Curve Model. This means that the response to a price increase is less than the response to a price decrease. Highly inelastic for price increases.
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In the oligopoly model under discussion the properties of the kinked demand curve as well as its significance are especially discussed. People make decisions when each is acting in his or her own best interest and have strategies that may yield different outcomes. B assumes marginal cost is constant. In an oligopolistic market the kinked demand curve hypothesis states that the firm faces a demand curve with a kink at the prevailing price level. The kinked demand curve describes price rigidity.
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Firms dont want to increase prices because they will see a sharp fall in demand. The kinked-demand curve model of oligopoly is useful in explaining why oligopolistic prices might change infrequently. According to the Cournot model. Demand is more elastic for price cuts than for price increases. Completely inelastic above the prevailing price.
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Price leadership represents a situation where oligopolistic firms. According the kinked demand curve model. According to the kinked demand curve model a firm will assume that rival firms will. B assumes marginal cost is constant. Tap again to see term.
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A kinked demand curve occurs when the demand curve is not a straight line but has a different elasticity for higher and lower prices. The kinked demand curve model assumes that a business might face a dual demand curve for it product based on the likely reaction of other firms to a change in its price or another variable. The kinked-demand curve model of oligopoly is useful in explaining why oligopolistic prices might change infrequently. C steeper than the curve just above the existing price. In the oligopoly model under discussion the properties of the kinked demand curve as well as its significance are especially discussed.
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Lower their prices so they dont lose market share. The kinked demand curve model assumes that if one firm raises its prices the other firms will do nothing and the firm that raised its price will lose market share. Small changes in a firms marginal costs can leave the equilibrium price unchanged. According to the kinkeddemand theory each firm will face two market demand curves for its product. According to the kinked demand curve model if it lowers its prices because costs decrease its competitors will.
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The kink in the demand curve occurs because rival firms will behave differently to price cuts and price increases. Click again to see term. According to the kinked demand curve model if it lowers its prices because costs decrease its competitors will. B has the same slope as the curve just above the existing price. Corresponding to MD 1 is the marginal revenue curve labeled MR 1.
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At high prices the firm faces the relatively elastic market demand curve labeled MD 1 in Figure. Sweezy an American economist and by Hall and Hitch Oxford economists. It is for explaining price and output under oligopoly with product differentiation that economists often use the kinked demand curve hypothesis. When a demand curve is elastic. Corresponding to MD 1 is the marginal revenue curve labeled MR 1.
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According to the Bertrand model a firm will assume that rival firms will. The kinked demand curve model assumes that a business might face a dual demand curve for it product based on the likely reaction of other firms to a change in its price or another variable. Demand is more elastic for price cuts than for price increases. Highly inelastic for price increases. This means that the response to a price increase is less than the response to a price decrease.
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