Economics · Microeconomics
The kinked demand curve feature of an oligopoly market structure is characterized by being:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Inelastic in the upper portion and highly elastic in the lower portion
- 2Perfectly inelastic throughout the length
- 3Highly elastic in the upper portion above the prevailing price, but inelastic below it✓
- 4Perfectly elastic throughout the length
Correct answer
Highly elastic in the upper portion above the prevailing price, but inelastic below it
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