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Individual retailers may lack the market power needed to negotiate lower prices. several retailers can join together to have a unified voice and gain market power. such organizations can expand regionally by attracting members with similar interests. these organizations are known as

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Answer

Cooperatives

Explanation

When retailers lack the power to gain a market so as to negotiate prices, the join together to form cooperatives which will have a unified voice and gain market power on their behalf. These organizations are set with the aim of purchasing and marketing the products of its members.



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