Chapter 8, Period 1

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Across
  1. 1. Production=consumer preferences
  2. 4. structure Nature of competition in a market
  3. 11. Not enough competition
  4. 12. Sellers raise prices too high
  5. 16. High startup costs make entrance hard
  6. 17. Firms work together like monopoly
  7. 18. Tech. monopoly-gov. might grant _
  8. 19. Product market served by 1 firm
Down
  1. 2. Type of organization, ex. sport league
  2. 3. Products are being made @ lowest cost
  3. 4. Firm can change market price of good/service
  4. 5. Many producers+low barriers
  5. 6. Most competitive structure
  6. 7. Monopolies are made up of 1 _
  7. 8. A couple large firms control market
  8. 9. Gov. issued right to operate business
  9. 10. All products that can be a substitution
  10. 13. Law: gov. policies that regulate business
  11. 14. Single firm has right to sell in exclusive market
  12. 15. Oligopoly members set price+production