Price leadership occurs if – smaller firms in an industry
Price leadership occurs if:Question 7 options:a)smaller firms in an industry silently agree to charge the same price as the largest firm.b)competition among a large number of small firms generates a stable market price.c)competition among a large number of small firms generates similar, but slightly different, prices.d)two or more firms in an industry agree to fix the price at a given level.An oligopoly may result from:Question 3 options:a)low or no barriers to entry.b)the standardization of a product.c)the existence of increasing returns to scale in the industry.d)price-taking conditions for both buyers and sellers.Save
