What are the power and the weakness of buyers?

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The power of buyers is the impact that customers have on a producing industry. In general, when buyer power is strong, the relationship to the producing industry is near to what an economist terms a monopsony – a market in which there are many suppliers and one buyer. Under such market conditions, the buyer sets the price. In reality, few pure monopsonies exist, but frequently there is some asymmetry between a producing industry and buyers....
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