--%>
Assignment Help - homework help

Illustration of kinked demand curve model

Sarah, Courtney, Carly and Lisa sell shell necklaces. As Lisa lowers her price, Carly, Sarah as well as Courtney lower their price. If Lisa raises her price, Carly, Courtney and Sarah remain their price similar. This interaction is an illustration of: (1) price discrimination. (2) cartelization. (3) game theory. (4) strategic behavior. (5) the kinked demand curve model.

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Microeconomics

  • Q : Marginal revenue and monopoly For a

    For a nondiscriminating monopolist, the marginal revenue is: (w) identical to price. (x) always positive. (y) always less than price. (z) always greater than price. Hello guys I want your advice. P

    		•
  • Q : Marginal revenue-product of labor The

    The monopsonist will hire labor till labor's marginal resource cost equivalents the: (1) The value of average product of labor. (2) Price of labor. (3) Marginal revenue product of labor. (4) Marginal physical product. Choose the ri

    		•
  • Q : Demand curve facing monopolistically

    The demand curve that facing a monopolistically competitive firm is: (1) perfectly elastic within the short run. (2) perfectly inelastic due to numerous substitutes for its product. (3) less elastic than the demand curve facing a comp

    		•
  • Q : Area above supply curve of resource The

    The area above a resource’s supply curve although below its price is a pure: (w) economic rent. (x) consumer surplus. (y) capitalization. (z) monopoly profit. Please choose the right answer from above...I wan

    		•
  • Q : Determine daily total revenue of

    While the price of watches is $35, in that case15 watches are sold on a typical day, the everyday’s total revenue is: (w) $475. (x) $525. (y) $350. (z) $150. Hello guys I want your advice. Please recommend so

    		•
  • Q : Signaling and Screening Completing your

    Completing your degree is most probable to be a significant signal which will help you in securing a well-paid job with bright future when potential employers: (i) Want to make sure that job applicants have already acquired important amounts of precise human capital.

    		•
  • Q : Law of Diminishing Marginal Utility

    The law of diminishing marginal utility might be evidenced by the person: (i) Smoking more however enjoying it less. (ii) Purchasing a new car subsequent to getting an increase. (iii) Distributing excess food to starving children. (iv) Who studies muc

    		•
  • Q : Properties of production possibilities

    Describe properties of the production possibilities curve.

    		•
  • Q : Entry and exit of purely competitive

    Pure competition is described by freedom of entry and exit by firms which are: (i) price discriminators and quality adjusters. (ii) price takers and quantity adjusters. (iii) owned and operated by entrepreneurs. (iv) arbitrators and p

    		•
  • Q : Problem on sellers utility function The

    The economy consists of a single buyer and a single seller. The buyer has the utility function b ln xB1 + xB2 with b ≤ 10. The seller has the

    		•