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.
How many Employees are labours?
Which of the following represents the same relation as Guitar, Flute and Music Instruments have?
The position of how many alphabets will remain unchanged if each of the alphabets in the word ‘UMBRELLA’ is arranged in alphabetical order from left...
The diagram represents the number of students studying different subjects. What is the number of students who study both Hindi and Chemistry?
Select the venn diagram that best illustrates the relationship among the following classes.
Women, Research, Introverts
Which of the following diagrams best depicts the relationship between Apple, Turmeric, and Vegetable.
If all teachers are learners, and some learners are researchers, which of the following statements is necessarily true?
How many people visited both Kashmir and Shimla but not Manali?
