Price leadershipis a method by whicholigopoliescan maintainstabilityand avoid intenseprice competitionwithin the market.In this strategy, one dominant firm, known as theprice leader,sets the price for its products or services, and other firms in the industry follow suit.The price leader typically has a significant market share and isinfluentialenough todictate pricingdecisions.By establishing a stable price level, price leadership helps maintain a level of predictability in the market and avoids disruptiveprice wars.This strategy allows firms to focus onnon-pricecompetition, such as product differentiation, quality, or customer service, while still coordinating theirpricing behaviorto some extent.To know more aboutOLIGOPOLIESbrainly.com/question/14337888#SPJ11...

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