Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Name: Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Rivalry among existing competitors refers to the competition between current players in the market, not the ability of buyers to affect prices. The ability of buyers to affect prices is referred to as the bargaining power of buyers.

Rivalry Among Existing Competitors Refers to the Ability of Buyers