explain the oligopoly with price determination under price leader ship in breaf?
Answers
Answer:
) The oligopolistic industry consists of a large dominant firm and a number of small firms. (2) The dominant firm sets the market price. (3) All other firms act like pure competitors, which act as price takers. Their demand curves are perfectly elastic for they sell the product at the dominant firm's price.
Explanation:
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Answer:
Price Leadership under Oligopoly: Types, Price-Output Determination and Feedback! ... Price leadership takes place when there is only one dominant organization in the industry, which sets the price and others follow it. Sometimes, an agreement may be developed among organizations to assign a leadership role to one of them mark as brainlist please follow me