Apex Products is one of three large firms that together share a major proportion of sales in the U$.$S$.$ market for metal replacement parts for a certain type of industrial machinery. Consideration of costs along with estimates of the category price elasticity for this type of replacement part indicates that a $12$ percent price increase would increase Apex's profits. Describe how Apex's two competitors would respond to Apex's prospective price increase if they maintained a cooperative stance toward Apex?

a$.$ None of the above

b$.$ They will maintain their product price; therefore they would decrease the attractiveness of Apex's price.

c$.$ They will be likely to match Apex's price increase.

d$.$ They will maintain their product's price or increase it by a smaller amount. Apex's price would be relatively less attractive to customers.