American Building Products is the largest cement company in the Midwest. When the firm raised its prices by 8 percent, all of it

Question

3 years ago

12

s competitors soon announced they too were raising their prices by 8 percent. It appears this industry is influenced by a ________ strategy.

1 answer:

Dmitry_Shevchenko [17] · Answer 1 · 2022-04-21T14:02:07+03:00

5 0

Answer: Price Leadership

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