A kink in the demand curve facing an oligopolist is caused by:
a. the belief that competitors will follow price increases but not match price decreases.
b. excessive advertising.
c. rapidly rising marginal revenues.
d. the assumption that competitors will follow price reductions but not price increases.
d
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If the money wage rate is constant and the price level increases, what happens to the real wage rate, firms' profits, and the aggregate quantity supplied?
What will be an ideal response?
A scatter diagram shows the
A) level of one variable over time. B) change in one variable over time. C) relationship between two variables. D) evolution of a variable.
A decrease in the supply of dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency. B) appreciation of the U.S. dollar and appreciation of the foreign currency. C) depreciation of the U.S. dollar and depreciation of the foreign currency. D) depreciation of the U.S. dollar and appreciation of the foreign currency.
Most Keynesian macroeconomists today ________ the natural rate hypothesis, which has helped lead to the ________ of Keynesian macroeconomics in the 1990s
A) reject, near-total extinction B) reject, revival C) accept, near-total extinction D) accept, revival