Boeing,a manufacturer of large commercial aircraft,raises its prices by 9 percent.Airbus,the other primary manufacturer of large commercial aircraft,follows with an increase of 9.25 percent.These companies are practicing a type of pricing strategy characteristic of:

Question

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In an oligopoly, a few companies dominate the market, and they often follow each other's pricing strategies to maintain market stability and avoid price wars. Boeing and Airbus, being the primary manufacturers, exhibit this behavior.

Boeing,a Manufacturer of Large Commercial Aircraft,raises Its Prices by 9