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UPENDER

· started a discussion

· 1 Months ago

explain (Question: 190349.0 )

kindly explain the answer with the figure.

Question:
Kinked demand curved is a feature of_________.
Options:
A) Monopoly 
B) Oligopoly
C) Monopsony
D) Duopoly
Solution:
Ans: (b) 



The oligopolist faces a kinked demand curve because of competition from other oligopolists in the market.

Knowledge Expert

· commented

· 1 Months ago

Dear Student,

The Kinked-Demand curve theory is an economic theory regarding oligopoly and monopolistic competition. An oligopoly (from Ancient Greek word (olígos), meaning 'few', and (polein), meaning 'to sell') is a market form wherein a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopoly has its own market structure.
Reference For details with diagram- https://www.cliffsnotes.com/study-guides/.../kinked-demand-theory-of-oligopoly


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