Which of the following features about a buyer indicates that the buyer has high bargaining power?
when the buyer faces high switching costs
when the buyer cannot credibly threaten to backwardly integrate into the industry
when the buyer cannot purchase specific products from other sellers
when the buyer operates in an industry where products are undifferentiated

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?