An Industry's Buyers Have High Bargaining Power When

question 73

Multiple Choice

An industry's buyers have high bargaining power when

• A) buyers purchase in large quantities.
• B) switching costs are low.
• C) it is economically feasible for buyers to purchase inputs from several companies at once.
• D) buyers can threaten to enter an industry and produce the product themselves.
• E) all of these.

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Definitions:

Phenotypic Plasticity

The potential of an organism to transform its observable traits in adaptation to environmental variations.

Genetic Polymorphisms

The occurrence of two or more distinct forms of a gene within a population, contributing to genetic diversity.

Environmental Stimuli

External cues or changes in the environment that can elicit responses from organisms, affecting their behavior, physiology, and development.

Quantitative Trait

A measurable phenotype that depends on the cumulative actions of many genes and the environment.