Download Oligopoly Video-Kinked Demand Curve Questions File

OLIGOPOLY
THE KINKED DEMAND CURVE
(Video Start: 1:40)
1.
This demand is effectively composed of two ___________ demand curves.
2.
What two factors will change the game playing behavior of firms?
3a.
What happens when a single firm in an oligopolistic market attempts to
increase price?
3b.
When the firm attempts to increase price its price is more e____________ .
4.
What happens when a single firm in an oligopolistic market attempts to
lower the price?
5.
What happens to the quantity demanded for the firm that initiated the
change in price? Why?
6.
The demand faced by the firm is i___________________ when there is a
price decrease.
7.
How is the marginal revenue curved shaped?
8.
Where does profit maximization occur?
9.
The marginal cost curve looks the same regardless of the m__________
structure.
10.
How do I determine the quantity and price?