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Question: According to the kinked demand curve theory, the behavior of firms in an oligopoly creates a dema...

Show transcribed image text According to the kinked demand curve theory, the behavior of firms in an oligopoly creates a demand curve that is _____ at prices above the cartel price and _____ at prices below the cartel price a downward-sloping, upward sloping b. more elastic. more inelastic c perfectly inelastic, downward-sloping d more inelastic; more elastic e. more inelastic; upward-sloping

According to the kinked demand curve theory, the behavior of firms in an oligopoly creates a demand curve that is _____ at prices above the cartel price and _____ at prices below the cartel price a downward-sloping, upward sloping b. more elastic. more inelastic c perfectly inelastic, downward-sloping d more inelastic; more elastic e. more inelastic; upward-sloping