7) Draw the possible kinked demand curve facing an oligopoly firm? At what point does the...

7) Draw the possible kinked demand curve facing an oligopoly firm? At what point does the firm produce? What happens to price and output if marginal costs change? Explain why there is a kink in the demand curve. What do the other firms do when an oligopoly firm raises its price and when it lowers its price?

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Rahul Sunny answered 2 years ago

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