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Explain the kinked demand curve theory of oligopoly

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Reference no: EM133081245

QUESTION ONE: Analyse and discuss five (5) factors that affect price elasticity of demand. Use examples to motivate your answer.

QUESTION TWO: Examine and explain the kinked demand curve theory of oligopoly. Include in your answer criticisms of the theory.

QUESTION THREE: Explain, with the aid of diagrams, the economic impact on a firm if it discovers a more
efficient technology for the production of its good or service. Use the cost curves and productcurves as the basis for your answer.

QUESTION FOUR: Discuss whether a perfectly competitive firm can engage in price discrimination. Substantiate your answer with the aid of diagrams.

Reference no: EM133081245

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