1. Neither empirical evidence nor theoretical logic offers any justifica- tion for the persistence of the...
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1. Neither empirical evidence nor theoretical logic offers any justifica- tion for the persistence of the dominant position of the kinked demand curve as a model of oligopolistic behaviour.' Discuss this statement, and consider whether alternative models of oligopoly represent any advance on the kinked demand model. 1. Neither empirical evidence nor theoretical logic offers any justifica- tion for the persistence of the dominant position of the kinked demand curve as a model of oligopolistic behaviour.' Discuss this statement, and consider whether alternative models of oligopoly represent any advance on the kinked demand model.
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The kinked demand curve model introduced by economist Paul Sweezy in the 1930s attempts to explain price rigidity and stability observed in oligopolis... View the full answer
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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