MCQOPTIONS
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| 1. |
In the kinked Demand Curve theory it is assumed that ? |
| A. | An increase in price by the firm is not followed by others |
| B. | An increase in price by the firm is followed by others |
| C. | A decrease in price by the firm is followed by others |
| D. | Firms collude to fix the price |
| Answer» B. An increase in price by the firm is followed by others | |