[Solved] It is sometimes said that competitors in an oligopolistic industry need a price leader to “straighten out the kink”

It is sometimes said that competitors in an oligopolistic industry need a price leader to “straighten out the kink” in the demand curve in order to raise the industry-wide price above where it is at point C. What does that mean?

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An oligopolistic refers to a market structure where a small number of enterprises demonstrate significant control over particular market segment. Therefore….