Please describe the non collusive dominant price model oligopoly

- The market is characterized by one large firm (dominant) and a large number of small firms (competitive fringe) - Leader firm has complete information about its demand and cost conditions and that of the competitive fringe. And it sets the price and others follow - The competitive fringe are price takers and face perfectly elastic demand at the price set by the dominant firm Equilibrium: - Dominant firm: MR_Leader=MC_Leader - Competitive fringe: dominant firm price equals their marginal costs