In the 1960s and 1970s, General Motors often set prices for the new model year and Ford and Chrysler would follow.This was a form of tacit collusion known as price leadership.False

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This statement is true. General Motors often acted as the price leader by setting prices for their new models, and Ford and Chrysler would typically follow suit with similar prices. This can be seen as a form of tacit collusion, as the companies were indirectly coordinating their pricing strategies without explicitly communicating with each other.

In the 1960s and 1970s, General Motors Often Set Prices