Difference between price leadership and price fixing

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Reference no: EM131285663

In many oligopolistic industries, firms follow a price leadership strategy, in which an accepted industry leader sets, raises, or lowers prices and the other firms follow.

Why is this good policy for the industry? In what ways is this good or bad for consumers?

What is the difference between price leadership and price fixing? Should governments allow industries to use price leadership strategies?

Reference no: EM131285663

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