Buyers Are More Likely to Be Powerful Relative to the Firms

question 7

Multiple Choice

Buyers are more likely to be powerful relative to the firms from which they purchase goods and services if:

• A) there are relatively few firms supplying the industry compared to the number of buyers.
• B) the good or service purchased by the buyers represents a negligible percentage of the buyer's costs.
• C) the industry's goods or services are highly differentiated.
• D) buyers face high switching costs in changing vendors.
• E) the good or service is of limited importance to the quality or price of the buyer's offerings.

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