{"id":44989,"date":"2024-04-15T21:51:39","date_gmt":"2024-04-15T21:51:39","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44989"},"modified":"2024-04-15T21:51:39","modified_gmt":"2024-04-15T21:51:39","slug":"the-upper-portion-of-the-kinked-demand-curve-is-relatively","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-upper-portion-of-the-kinked-demand-curve-is-relatively\/","title":{"rendered":"The upper portion of the kinked demand curve is relatively"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;More inelastic&#8221; option2=&#8221;More elastic&#8221; option3=&#8221;Less elastic&#8221; option4=&#8221;Inelastic&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. More elastic<\/strong>.<\/p>\n<p>A kinked demand curve is a type of demand curve that is characterized by a sudden change in slope. The upper portion of the kinked demand curve is relatively more elastic than the lower portion. This is because, at the higher prices, the firm is more likely to face competition from other firms. As a result, the firm will be less able to raise prices without losing a significant number of customers. On the other hand, at the lower prices, the firm is less likely to face competition from other firms. As a result, the firm will be able to lower prices without losing a significant number of customers.<\/p>\n<p>The following are the explanations of each option:<\/p>\n<ul>\n<li><strong>A. More inelastic<\/strong>. This is incorrect because the upper portion of the kinked demand curve is relatively more elastic than the lower portion.<\/li>\n<li><strong>B. More elastic<\/strong>. This is the correct answer because the upper portion of the kinked demand curve is relatively more elastic than the lower portion.<\/li>\n<li><strong>C. Less elastic<\/strong>. This is incorrect because the upper portion of the kinked demand curve is relatively more elastic than the lower portion.<\/li>\n<li><strong>D. Inelastic<\/strong>. This is incorrect because the upper portion of the kinked demand curve is relatively more elastic than the lower portion.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;More inelastic&#8221; option2=&#8221;More elastic&#8221; option3=&#8221;Less elastic&#8221; option4=&#8221;Inelastic&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-44989","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The upper portion of the kinked demand curve is relatively<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-upper-portion-of-the-kinked-demand-curve-is-relatively\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The upper portion of the kinked demand curve is relatively\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;More inelastic&#8221; 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