Question
According to the kinked demand curve model, if a firm
raises its price, competitors are likely to:Solution
Solution: The kinked demand curve model suggests that an oligopoly firm faces: · Elastic demand for price increases (rivals don’t follow, firm loses many customers). · Inelastic demand for price cuts (rivals match price cuts, firm gains few customers). Hence, firms avoid raising prices, leading to price rigidity.
With reference to the Government portal UDID (Unique Disability ID), consider the following statements:
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Consider the following Statements about Pradhan Mantri Garib Kalyan Package Insurance Scheme and choose the option with correct Statements.
Consider the following Statements.
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Consider the following Statements about Mission Indradhanush and choose the option with correct Statements.
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