Competitive pressures stemming from the bargaining power of buyers tend to be weaker when A) the number of buyers is small or if a customer is particularly important to a seller. B) buyer demand is growing slowly or maybe even declining. C) the costs incurred by buyers in switching to competing brands or to substitute products are relatively high. D) buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. E) the buyer group consists a few large buyers and the seller group consists of numerous small firms.
Competitive pressures stemming from the bargaining power of buyers tend to be weaker when A) the number of buyers is small or if a customer is particularly important to a seller. B) buyer demand is growing slowly or maybe even declining. C) the costs incurred by buyers in switching to competing brands or to substitute products are relatively high. D) buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. E) the buyer group consists a few large buyers and the seller group consists of numerous small firms.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Competitive pressures stemming from the bargaining power of buyers tend to be weaker when
A) the number of buyers is small or if a customer is particularly important to a seller.
B) buyer demand is growing slowly or maybe even declining.
C) the costs incurred by buyers in switching to competing brands or to substitute products are relatively high.
D) buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs.
E) the buyer group consists a few large buyers and the seller group consists of numerous small firms.
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