LABOR Bargain Hard Be Nice MANAGEMENT Bargain Hard 15,0 20, 10 Be Nice 10,20 30,
ID: 1195546 • Letter: L
Question
LABOR
Bargain Hard
Be Nice
MANAGEMENT
Bargain Hard
15,0
20, 10
Be Nice
10,20
30, 15
1) Pete and Lisa are entering into a bargaining situation in which Pete stands to gain up to $5,000 and Lisa stands to gain up to $1,000, provided they reach an agreement. Who is likely to be the better bargainer?
a) Pete
b) Lisa
c) They will beequally effective
d) These potential gains will have no impact on bargaining
2) Consider a vendor-buyer relationship. Which of the following conditions would lead to the buyer having more bargaining power?
a) Lots of substitutes for the vendor's product are available
b) There are relatively few buyers and many vendors
c) It costs little for buyers to switch vendors
d) All of the above
LABOR
Bargain Hard
Be Nice
MANAGEMENT
Bargain Hard
15,0
20, 10
Be Nice
10,20
30, 15
Explanation / Answer
1. These potential gains will have no impact on bargaining. The potential gains ar likely and may not have any effect on the bargaining.
2.
The correct option may be "All of the above". There would be lots of substitutes for the vendor's product in the market. The vendors will compete for few buyers in the market and it costs little for buyers to switch vendors which widens competition.
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