Final answer:
Buyers have the most supply management leverage over a seller when there is competition, high demand, and access to information.
Step-by-step explanation:
In order for a buyer to have the most supply management leverage over a seller, there are several conditions that must be met:
- Competition: The presence of multiple sellers in the market increases supply and gives buyers more options to choose from, which in turn gives them more bargaining power.
- High demand: When there is a high demand for a product but limited supply, buyers have more leverage as sellers will be motivated to meet the demand and adjust their prices accordingly.
- Access to information: Buyers must be well-informed about the product's price, quality, and availability. This allows them to make informed decisions and negotiate better deals.