A major weakness of the kinked demand curve model of oligopoly is that ?

Profit Maximizing Under Perfect Competition And Monopoly 08/01/2021

A. it assumes that firms believe that their rivals will not respond to any price change they initiate
B. it fails to explain how a firm arrived at its price and output decision initially
C. The model cannot be tested empirically.
D. Real-world pricing strategies are more simple than those assumed in this model

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