Q. “in Kinked Demand curve theory” , if a company increases its price, how do its competitors react to it? If a company cut its price, how do its
Q. “in Kinked Demand curve theory” , if a company increases its price, how do its competitors react to it? If a company cut its price, how do its competitors react to it? Can you explain the shape of Kinked Demand curve? Can you describe the shape of MR(marginal Revenue) curve under Kinked Demand curve?
Thank you for help!
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