According to Michael Porter, there are five determinants of competition.An example of _____ is when a buyer purchases a large fraction of an industry's output and can demand price concessions.

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This is an example of the bargaining power of buyers, where their ability to purchase a large fraction of an industry's output gives them the leverage to demand lower prices. The other determinants of competition, as identified by Michael Porter, are threat of entry, rivalry between existing competitors, pressure from substitute products, and bargaining power of suppliers.

According to Michael Porter, There Are Five Determinants of Competition