Author Question: A kinked demand curve is based on the actions of an oligopolist to follow a price increase but not a ... (Read 53 times)

washai · **on:** Jun 30, 2018

A kinked demand curve is based on the actions of an oligopolist to follow a price increase but not a price reduction.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:
a. greater than the average variable cost.
b. less than the average variable cost.
c. equal to the average variable cost.
d. at its minimum.