The demand curve which assumes that competitors will follow price decreases but not price increases is called
A. an industry demand curve.
B. an inelastic demand curve.
C. a kinked demand curve.
D. a competitive demand curve.
Answer:C
The demand curve which assumes that competitors will follow price decreases but not price increases is called
A. an industry demand curve. B. an inelastic demand curve. C. a kinked demand curve. D. a competitive demand curve.