Explain the pricing under price leadership
Explain the pricing under price leadership.
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The price leadership implies the leading firm finds out the price and others follow this. All the firms in the industry adjusts, the price fixed through the price leader.
The large firm that that fixes the price is termed as the price maker and the firms, who follow this, are termed as price –takers. Four types of the price leadership are there. These are: 1. Dominant price leadership: Under this situation, there exist many minute firms and one large firm and the huge firm fix the price and the small firms under the market accept such price. 2. Barometric Price Leadership: In this situation one reputed and experienced firm’ price fixes and others may follow this. 3. Aggressive Price Leadership: In this market condition, one dominating firm fixes the price as well as they compel all others within the industry to follow the price. 4. Effective Price Leadership: In this condition, there is small number of firms within the industry.
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I have a problem on perfectly price elastic supply curve that is given below: A perfectly price elastic supply curve is: (w) vertical. (x) horizontal. (y) positively sloped. (z) negatively sloped. Q : Determine loss in curve of profit or As is given figure below. Assume that the prevailing price is P1 and the firm is now producing its loss-minimizing quantity. Determine the area which shows the loss: w) P2deP1. x) P3cbP1. y) P3caP0
As is given figure below. Assume that the prevailing price is P1 and the firm is now producing its loss-minimizing quantity. Determine the area which shows the loss: w) P2deP1. x) P3cbP1. y) P3caP0
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