As a New York businessperson who does a lot of flying, you are keenly aware of even small changes in airfare from New York to Chicago. You have flown this route long enough to know that each airline is essentially a perfect substitute for the others. You notice that every time the largest airline changes the price, smaller airlines follow, but the smaller airlines are always priced slightly below the fare of the largest airline. This industry could best be described as one with:. a. non-price monopoly.
b. price leedership.
c. price turmoil
d. cartel behavior