OPEC functions as a classic example of a kinked demand curve oligopoly.

Name: OPEC functions as a classic example of a kinked demand curve oligopoly.
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OPEC functions more as a cartel than a classic example of a kinked demand curve oligopoly. A kinked demand curve oligopoly suggests firms are reluctant to change prices due to perceived reactions from competitors, whereas OPEC actively manages supply to influence prices.

OPEC Functions as a Classic Example of a Kinked Demand