The pattern of behavior in which one company tacitly sets prices for the industry as a whole is known as product differentiation.
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Q221: The effect of product differentiation is to
Q222: An attempt by a firm to convince
Q223: Price leadership is an attempt by a
Q224: An attempt by a firm to convince
Q225: Tacit collusion is likely to occur when
Q227: Advertising is an example of price leadership.
Q228: To limit competition,oligopolists often practice product differentiation.
Q229: In a price war,firms in an oligopoly
Q230: The effect of product differentiation is to
Q231: Oligopoly firms that produce only cement are
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