16.) Eight cents of every dollar spent at retail stores in America is spent at Walmart. With such market power, Walmart is able to name the price at which it is willing tobuy goods from suppliers." (LO17-3)

need help with question c.

a.) Could this happen if Walmart's suppliers were operating in a perfectly competitive market?

No. In a perfectly competitive market, prices are set by a joint decision of all buyers. No one firm sets the price.

b.) What if it were operating in an imperfectly competitive market, specifically a monopsonistic market?

No. No one sets the price in this type of market. The market determines the price.

c.) What would be the lower limit of the price Walmart could name?