Economics

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Across
  1. 1. Under perfect competition, what sets the equilibrium price in the market?
  2. 5. When two or more rival companies work together to limit competition
  3. 6. the monetary value of a product
  4. 7. A market situation in which the costs of production are lowest when only one firm provides output.
  5. 9. allow right owners to derive financial reward from the use of their works by others
  6. 11. This type of monopoly is based on ownership of a manufacturing method or process.
  7. 12. In this type of market structure two large sellers dominate the industry.
  8. 13. the maximum legal price that can be charged for a product
Down
  1. 2. a process that gives the inventor exclusive rights
  2. 3. a price-related variable
  3. 4. Uncompensated side effects
  4. 6. the minimum legal price that can be charged for a product
  5. 8. Due to this businesses reveal certain information to the public
  6. 10. one of the four Ps of marketing