Why was the leader forced to back off its price changes


Problem

(Wall Street Journal) If you look carefully, you can often find evidence of price leadership. For example, the Wall Street Journal frequently runs stories about airfares. Typically, one airline will raise its fares-on certain routes or across the board-and other airlines will match those changes within a day or two. As you read through the Wall Street Journal this week, be on the lookout for such stories. They are typically reported on the front page-in the "What's News" column. When you find such a story, check back over the next few days. Did other airlines match the leader, or was the leader forced to back off its price changes?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Why was the leader forced to back off its price changes
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