Economics · Oligopoly
In an oligopoly market, Paul Sweezy's kinked demand curve model is based on which assumption regarding rival firms' behavior?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rival firms ignore both price increases and price decreases.
- 2Rival firms match both price increases and price decreases.
- 3Rival firms match price increases but ignore price decreases.
- 4Rival firms match price decreases but ignore price increases.✓
Correct answer
Rival firms match price decreases but ignore price increases.
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