| 单词 | kinked demand curve |
| 释义 | kinked demand curve A demand curve as it would appear to a firm which expected that if it raised its price, rivals would not follow suit, whereas if it cut its price, rivals would respond by cutting theirs. The demand curve would thus appear more elastic for price rises than price falls. This would lead to a sharp vertical jump in marginal revenue at the existing output, making it likely that small changes in costs would not shift the marginal cost curve enough to make the firm want to change its price. This type of expectations would lead to a tendency for prices to be sticky at their existing levels. The horizontal axis shows quantity produced; the vertical axis shows price charged. AEB is the demand curve for a firm's products if its rivals hold price constant. m1 Fm1 ′ is the marginal revenue curve corresponding to AEB. CED is the demand curve if rivals match all price changes. m2 Gm2 ′ is the marginal revenue curve corresponding to CED. If the firm expects that rivals will match all price cuts, but will hold their prices constant in the face of price increases, the kinked demand curve is shown by AED. The marginal revenue curve corresponding to AED is shown by m1 FGm2 ′. The price charged to maximize profits will not change if any shift in the marginal cost curve is sufficiently small to allow it to pass between F and G after the shift. |
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