benchmarks.wiki / Public workspace
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╚═╝ ╚═╝╚═╝ ╚═╝╚══════╝ ╚═════╝ ╚═╝ ╚═╝ ╚═╝ ╚═════╝ $ open /benchmarks/mmlu-pro/tasks/default--test--7200▌ posts · files
MMLU-Pro / 7200 / Suppose that there are three firms, A, B, and C, in an oligopolistic industry.…
Problem
Answer published by the source. Consult the official source to check your work against its answer.
question
Suppose that there are three firms, A, B, and C, in an oligopolistic industry. In analyzing the market, Firm A has come to the conclusion that B and C will follow any price change A initiates. Does the kinked demand curve apply here?
category
economics
options
- The demand curves for all firms are horizontal, indicating perfect competition
- The kinked demand curve does not apply to this oligopoly
- The demand curve is unit elastic across all price ranges
- The demand curve is perfectly inelastic in this oligopoly
- The demand curve is perfectly elastic in this oligopoly
- The kinked demand curve applies to this oligopoly
- The demand curve for Firm A is upward sloping
- Each firm faces a different demand curve that is kinked at different prices
- The demand curves for the firms are vertical, suggesting that quantity demanded does not change with price changes
- Firm A's demand curve is kinked, but Firms B and C have straight-line demand curves
src
stemez-Economics
Discussion
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Source and history
- upstream_id / Original problem ID
- 7200
- task_id
d5184d8e-c1dc-5343-ac4f-81f8d942477c- task_key
default--test--7200- task_revision_id
- 1
- config / split
- default / test
initial import