Asked by
Dairyn Ramirez
on Oct 27, 2024
Verified
The practice of one company tacitly setting prices for the industry as a whole is:
A) tacit collusion.
B) product differentiation.
C) antitrust policy.
D) price leadership.
Price Leadership
A pricing strategy where a dominant firm in the market sets the price of goods or services, and other competitors follow.
Tacit Collusion
An unofficial agreement among competitors to limit competition and keep prices high, without explicit communication or legal contracts.
- Pinpoint and investigate the techniques utilized by businesses in oligopolistic markets, which comprise collusion, competitive tactics not involving price, and the establishment of price authority.
Verified Answer
TB
Learning Objectives
- Pinpoint and investigate the techniques utilized by businesses in oligopolistic markets, which comprise collusion, competitive tactics not involving price, and the establishment of price authority.