The most competitive industry is one that has

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Price leadership refers to a situation where a company sets the price for a product or service which then becomes the industry benchmark, leading to other companies following suit. This results in intense competition as companies try to match or undercut each other's prices while maintaining profitability. Price leadership does not involve any collusion or cartel-like behavior, making it a competitive industry. Open and covert collusion, as well as cartels, involve either explicit or implicit agreements among companies to control the market and set prices, leading to reduced competition and higher prices for consumers.

The Most Competitive Industry Is One That Has