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MMLU / With respect to the kinked demand curve, which of the following is NOT correct?

Problem

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question

With respect to the kinked demand curve, which of the following is NOT correct?

choices

  1. There is no price leader.
  2. There are relatively equal shares of the market.
  3. Price is greater than marginal costs.
  4. The demand curve is of one continuous function.

subject

high_school_microeconomics

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Official source

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