Genesiscat6578 Genesiscat6578

06-03-2020
Business

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American Building Products is the largest cement company in the Midwest. When the firm raised its prices by 8 percent, all of its competitors soon announced they too were raising their prices by 8 percent. It appears this industry is influenced by a ________ strategy.

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10-03-2020

Answer: Price Leadership

Explanation: Price leadership occurs when a dominant firm sets a price which is then adopted by other firms in the industry.

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