Explain sticky prices n markets characterized by oligopoly

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The kinked demand curve model can be used to explain the sticky prices n markets characterized by oligopoly. A typical kinked demand curve consists of two straight lines joined at the kink. ( a piece -wise linear where P is price (in dollars and Q is quantity demanded). solve: P = 18-Q if Q is less than or = to 4 and P = 22 -2Q if Q is greater than 4. Where P is price in $ and Q is quantity demanded.

Reference no: EM131096053

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