One of the theories that explains oligopoly behavior is the kinked demand curve theory. The kinked demand curve
a. applies when competitors match price decreases but not price increases
b. could apply to market demand in any market structure
c. applies when competitors match price increases but not price decreases
d. applies to the price leadership model
e. applies when competitors act independently
A
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If the current account balance has a $70 million deficit and there was no change in official reserves during that year, then we know that
A) net transfers were -$70 million. B) the capital account balance must have a $70 million deficit. C) the balance of payments must register a $70 million surplus. D) the official settlements account balance must have a $70 million surplus. E) the capital and financial account balance must have a $70 million surplus.
An imperfectly competitive firm has the following total cost curve: C = 100 + 4Q. What is average total cost equal to when Q = 10?
What will be an ideal response?