Examlex
Why is the "power of the purse" so significant?
Price Leadership
A market strategy where one leading company sets the price of goods or services within a sector, and other companies in the industry follow suit.
Airfare
The cost or price of a journey by airplane.
Price Leadership
A situation where one company (the price leader) sets the price of goods or services in the market, and other companies follow suit, often seen in oligopolistic markets.
Nash Equilibrium
An idea in strategic game theory in which none of the participants can gain by altering their approach if all other players maintain their current strategies.
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