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Economics
MEDIUM
ENGLISH
Economics
The kinked demand curve model of oligopoly assumes the elasticity of demand ?
A
in response to a price increase is less elastic than the elasticity of demand in response to a price decrease
Option A
B
is perfectly elastic if price increases and perfectly inelastic if price decreases
Option B
C
is constant regardless of whether price increase of decrease.
Option C
in response to a price increases is more elastic than the elasticity of demand in response to a price decrease
Correct answer
Correct answer: D
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