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Price Leadership Is a Form of Explicit Collusion Where One

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Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit.


Definitions:

Polycythemia

Polycythemia is a condition characterized by an increased number of red blood cells in the bloodstream.

Erythropoiesis

The production of red blood cells in the bone marrow.

Hemoglobin

A protein in red blood cells that carries oxygen from the lungs to the rest of the body and carbon dioxide back to the lungs.

Abbreviation

A downsized version of a word or phrase.

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