By the 21st century, few people purchased printed encyclopedias. Which of the following competitive forces best explains this?A. competition from substitutesO B. the bargaining power of buyersOC. the threat from potential entrantsO D. the bargaining power of suppliers

Bargaining power of buyer will reduce the price of encyclopedias as a result more people will buy it…

By the 21st century, few people purchased printed encyclopedias. Which of the following competitive forces best explains this? O A. competition from substitutes O B. the bargaining power of buyers OC. the threat from potential entrants O D. the bargaining power of suppliers

By the 21st century, few people purchased printed encyclopedias. Which of the following competitive forces best explains this? O A. competition from substitutes O B. the bargaining power of buyers OC. the threat from potential entrants O D. the bargaining power of suppliers

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 6CQQ

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By the 21st century, few people purchased printed encyclopedias. Which of the following competitive forces best explains this?
A. competition from substitutes
O B. the bargaining power of buyers
OC. the threat from potential entrants
O D. the bargaining power of suppliers

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