In oligopoly, the kinked demand curve model was developed by: MCQ with Answer and Explanation

Question

Share Report Error

In oligopoly, the kinked demand curve model was developed by:

A. Paul Sweezy

B. Edward Chamberlin

C. Joan Robinson

D. A.C. Pigou

Answer: Option A

Solution (By JKSSB Mock Tests)

Paul Sweezy developed the kinked demand curve model to explain price rigidity in oligopolistic markets.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Price elasticity of demand is measured as:

A. change in price divided by change in quantity

B. percentage change in price divided by percentage change in quantity demanded

C. change in quantity divided by change in price

D. percentage change in quantity demanded divided by percentage change in price

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'break-even point' in consumption occurs when:

A. saving equals investment

B. MPC equals zero

C. consumption equals saving

D. consumption equals income

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
At break-even point, consumption equals income, so saving is zero.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Nairobi Package' of WTO was adopted in which year?

A. 2019

B. 2013

C. 2017

D. 2015

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The Nairobi Package was adopted in 2015.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs