When Firms That Provide Key Raw Materials to an Industry

question 7

Multiple Choice

When firms that provide key raw materials to an industry can frequently negotiate for higher prices,the:

• A) Bargaining power of buyers is high.
• B) Bargaining power of suppliers is high.
• C) Barriers to entry are low.
• D) Bargaining power of suppliers is low.

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Definitions:

Interface

The hardware and software that enable individual computers and components to interact.

Modem

A device that modulates and demodulates signals for encoding and decoding digital information over telephone lines.

Consumables

Items or products that are intended to be used up and replaced.

Interpretation

The process of explaining the meaning of something, often involving the translation of language or the elucidation of data and findings.