In an oligopoly, typically one firm will be the first to announce a price change and quickly all of the other firms will follow with similar price changes. This process is called
A) price leadership
B) loss-leader pricing
C) leader pricing
D) bid pricing

Question

Quizplus · Accepted Answer

In an oligopoly, typically one firm will be the first to announce a price change and quickly all of the other firms will follow with similar price changes. This process is called price leadership and is often exercised by one or two of the firms in the industry.

In an Oligopoly, Typically One Firm Will Be the First