Explain how the Kinked Demand Curve works

-When a Firm raises its Prices, it will see a Large Drop in its Demand. Consumers are going to Switch to their Rivals. Thus, the Demand Curve is Price Elastic -When a Firm lowers the Price, the Market Share won’t really Increase. All other Firms will Drop prices else it will lose Revenue. When Prices fall, demand is Price Inelastic.