The kinked demand theory attempts to explain why an oligopolistic ...

[kfurse]

The kinked demand theory attempts to explain why an oligopolistic firm:
 a. has relatively large advertising expenditures.
  b. fails to invest in research and development (R and D).
  c. infrequently changes its price.
  d. engages in excessive brand proliferation.

Question 2

If the units of variable input in a production process are 1, 2, 3, 4, and 5, and the corresponding total outputs are 30, 34, 37, 39, and 40, respectively. The marginal product of the fourth unit is:
 a. 2.
  b. 1.
  c. 37.
  d. 39.

[1_Step_At_ATime]

Answer to Question 1

c

Answer to Question 2

a