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What factors contribute to increasing the bargaining power of suppliers
Competitive Equilibrium
A market state where supply equals demand, with no external influences, and prices are such that the quantity supplied is equal to the quantity demanded.
Utility Function
A mathematical representation in economics of how a consumer's preferences correspond to the consumption of goods and services.
Endowed
Possessing a particular resource, asset, or attribute, either naturally or through a transfer, such as being given a sum of money or property.
Bromides
Compounds containing a bromine ion or a derivative thereof; in colloquial usage, a bromide is a commonplace or boring statement intended to placate or pacify.
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