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This content discusses the concept of 'Leadership in Cost' in Part 1, focusing on price leadership (collusive oligopoly) in microeconomics (political economy). It highlights that in a collusive oligopoly market, one or a few firms may take the role of price leaders, setting the
market price. However, this leadership role comes with a cost, as the leading firm must balance the benefits of setting the price with the potential negative impacts on its market position and profits. The trailer suggests exploring the price of leadership and its associated costs.
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