Regarding price leadership,which of the following is NOT true?
A) one firm may establish itself as the dominant firm
B) the dominant firm is frequently a larger size or has lower cost structure
C) Price leadership is a model of price-output determination
D) Once established,a barometric price leader will not change
E) price leadership is a pricing strategy followed in many oligopolistic industries
Correct Answer:
Verified
Q11: The distinctive characteristic of an oligopolistic market
Q12: An oligopoly is characterized by:
A) a relatively
Q13: In a kinked demand market,whenever one firm
Q14: A cartel is a situation where firms
Q15: The largest problem faced in cartel pricing
Q16: The kinked demand curve model helps to
Q17: Effective collusion generally is more difficult as
Q18: A(n)_ is characterized by a relatively small
Q19: In the absence of any legally binding
Q20: Some market conditions make cartels MORE likely
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