A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2017 · Q121 Mark
Which feature of an oligopoly can be explained by the kinked demand curve model?
- (a)Which feature of an oligopoly can be explained by the kinked demand curve model? A collusion between firms in the determination of the industry price B price leadership by one firm in the industry C the ability of firms to earn abnormal profits in the long run D the reluctance of firms to alter prices[1]
Mark scheme
Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.
- [1] Answer: D
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