Imagine United Airlines deciding independently to reduce fares on its flights. Other competing airlines quickly matched the fare cuts. These actions might be interpreted as:

The kinked oligopoly demand curve is a result of the assumption by an oligopolist that a. price increases will be matched, but price reductions will not. b. price increases will not be matched, but price reductions will. c. both price increases and price reductions will be matched. d. neither price increases nor price reductions will be matched.