Price leaders usually emerge in pure competition--and they set a price for all to follow.

Name: Price leaders usually emerge in pure competition--and they set a price for all to follow.
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Question

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Price leaders typically do not emerge in pure competition, as all firms in pure competition are price takers and can only accept the market price. In pure competition, prices are determined by supply and demand forces in the market, not by any individual firm.

Price Leaders Usually Emerge in Pure Competition--And They Set a Price