__________ is the procedure by which one or more dominant firms set the pricing practices that all competitors in an industry follow.
A) Affirmative pricing
B) Target costing
C) Price leadership
D) First mover pricing

Question

Quizplus · Accepted Answer

Price leadership is the practice followed by dominant firms, where they set the pricing practices that all competitors in the industry follow. This can be done by fixing a price for a product or service, which is then followed by other firms within the same industry. This practice is common in industries that have a small number of dominant players, such as the airline industry, where one or two airlines set the pricing practices for the entire industry.

__________ Is the Procedure by Which One or More Dominant