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Bargaining power
Meaning
Noun
●
In Economics:
The ability to influence the
setting
of
prices
or
wages
, usually
arising
from some
sort of
monopoly
or
monopsony
position
, or a non-equilibrium
situation
in the market.
●
In Business:
The amount of
leverage
or influence that a
bargainer
has in the
course
of a negotiation.
Sourced from
Wiktionary
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