Identify the correct statement.
A) A price leader is a perfect competitor who sells as much as it wants at a given price.
B) A price follower has substantial influence over the market price.
C) A price follower is a firm that produces a large portion of the total output produced in an oligopolistic market.
D) A price leader sets the price that maximizes its profits.
E) A price leader sets the price that maximizes its sales.
Correct Answer:
Verified
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