Price leadership is when one firm sets price for the industry and the others follow.

Name: Price leadership is when one firm sets price for the industry and the others follow.
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Price leadership is a real theory in which one firm takes the lead in setting the prices of the products or services in the industry and other firms follow it. This method is generally used in oligopolies where a few major players dominate the market.

Price Leadership Is When One Firm Sets Price for the Industry