Economics Ch. 14, 15, 16, 17

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Across
  1. 1. a group of firms acting in unison
  2. 3. a market structure in which many firms sell products that are similar but not identical
  3. 9. the benefits that arise when two companies merge
  4. 11. when one company lowers its prices to drive another out of business
  5. 13. a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms
Down
  1. 1. an agreement among firms in a market about quantities to produce or prices change
  2. 2. a corporation made up of a number of different, seemingly unrelated businesses
  3. 3. the change in total revenue from an additional unit sold
  4. 4. the business practice of selling the same good at different prices to different customers
  5. 5. passed in 1890 to reduce market power of trusts that dominated the economy
  6. 6. a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
  7. 7. a market structure in which only a few sellers offer similar or identical products
  8. 8. total revenue divided by the quantity sold
  9. 10. a firm that is the sole seller of a product without close substitutes
  10. 12. a cost that has already been committed and cannot be recovered