Market structures
What market structure best describes the environment within which your organization operates? What challenges and opportunities would arise from higher and lower degrees of government intervention? Provide a rationale to support your selected market structure.
On the other hand, lower degrees of government intervention will create opportunities for my organization such as being free from restrictive regulations that may hamper its ability to compete with other firms. Additionally, lower tax rates may lead to increased consumer demand which would result in improved sales figures thus increasing revenues generated by our organization (Farnham & Plummer, 2016).
In conclusion, an oligopolistic market structure provides both challenges and opportunities depending on how much government intervention there is in regulating prices and taxes among other things. My organization should be aware that too much regulation can stifle competition while too little can lead to unfair practices from dominant players in order to maintain their competitive advantage over others.
References
Farnham, D., & Plummer D.(2016). Managerial Economics:Applications Strategy&Analysis(10th ed.). Retrieved from https://online-learning .harvard .edu/course/managerial-economics-applications -strategy -analysis