Chapter 10

4. The fall in market value of firm's capital over a given period.
5. Firm's opportunity cost of using its own capital.
8. A single owner of a firm.
11. When a firm produces a given output at the least cost.
12. The cost of producing a unit of a good falls as output rate increases.
13. Square of the percentage market share of each firm summed over largest 50 firms.
14. Total revenue minus total cost.
15. Firm owned by one or more limited liability shareholders.
16. Technology, Information, Market.
17. A handful of firms compete.
18. Large number of firms making similar but slightly different products: ______ competition.

1. A firm with two or more owners who have unlimited liability.
2. When a firm produces a given output using the least amount of input.
3. One firm.
6. Percentage of value of sales accounted for by the four largest firms in an industry.
7. Many firms, selling identical products: _____ competition.
9. When a firm uses specialized resources to produce a range of goods and services.
10. Firms eliminate these.
19. Any method of producing a good or service.