The kinked demand curve model of oligopoly assumes that:
AResponse to a price increase is less than the response to a price decrease.
BResponse to a price increase is more than the response to a price decrease.
CElasticity of demand is constant regardless of whether price increases or decreases.
DElasticity of demand is perfectly elastic if price increases and perfectly inelastic if price decreases.
The kinked demand curve model of oligopoly assumes that:
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
Elasticity of demand is constant regardless of whether price increases or decreases.
D