Question
The best market structure that describes the environment within which my organization operates would be a perfectly competitiveindustry. Acompetitive industry can earn positive or negative
The best market structure that describes the environment within which my organization operates would be a perfectly competitiveindustry. A"competitive industry can earn positive or negative profits in the short run until entry or exit occurs". The company that I work for, Sunkist Growers, has many other competitors in the same industry. Sunkist often competes with other orange companies such as wonderful (halos), hale groves, and other export companies as well. We try to either match or go lower to sell more fruit to our customers. If any company were toreceivegovernment intervention, oneopportunity I can think of would be government regulations can protect the environment, workers, and consumers. Some challenging intervention from the government could be raising taxes on selling overseas causing our company to higher the price to get more revenue in return.
In perfect competition, there are many buyers each producing identical products. The price is determined by the market. There is free entry and exit. No economic profit in the long run.
Does your company meet these characteristics?
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