The Bargaining Power of Buyers Increases If

question 26

Multiple Choice

The bargaining power of buyers increases if

• A)there are many large buyers.
• B)the input in question has few substitutes.
• C)the input in question is not a critical component of production.
• D)there are wide variations in the quality of inputs from supplier to supplier.

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Definitions:

Concrete

Describes a material composed of cement, water, sand, and gravel, used in building construction or a concept having a physical existence; tangible.

Physical Object

An entity that exists in the physical world and can be perceived by the senses.

Manufactured Object

An item or product that has been created or produced through a manufacturing process, typically involving machinery and human labor.

Toy

An object designed for children to play with, often aiding in learning and development through entertainment.