Local Farmers of Tampa Bay sell their produce in the market every day. They band together to gain cost and operating economies of scale in the market for selling their produce. This is an example of a ________.

Question

Quizplus · Accepted Answer

The given scenario represents a retailer cooperative, where farmers work together to sell their produce in the market to gain cost and operating efficiencies. By banding together, they can jointly purchase supplies at lower prices and reduce operating costs. This helps them to compete with larger retailers and increase their bargaining power with suppliers.

Local Farmers of Tampa Bay Sell Their Produce in the Market