A) Perfect competition
B) Monopoly
C) Oligopoly
D) Monopolistic competition
Correct Answer: C
Solution :
An oligopoly is a market dominated by a few producers, each of which has control over the market. The kinked demand curve model developed first by the economist Paul Sweezy assumes that a business might face a dual demand curve for its product based on the likely reactions of other firms in the market to a change in its price or another variable.
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