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Instructions: Identify the following terms.
Goths, Romulus Augustulus, Odoacer, and 476
Price-leadership Model
A market strategy where one leading company sets the price for goods or services, and others in the industry follow suit.
Dominant Firm
A company that has a major share of total sales in a particular market, giving it significant control over market prices and competition.
Oligopoly
A market structure characterized by a small number of firms controlling a large majority of the market share, leading to limited competition.
Dominant Price Leader
A firm that has the biggest market share in an industry and whose price changes are usually followed by other firms in the market.
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