Economics Crossword

3. The things a firm needs to make its output.
4. a firm who has some control over the price it charges.
6. A person who conceives and starts a business.
8. Additional revenue generated by the production and sale of one more unit of output.
9. Tangible out-of-pocket costs.
10. Things that convey information about profitability of various markets.
12. Where firms have little to no market power.
13. Restrictions that make it difficult for a new firm to enter a market.
15. When a small number of firms sell a product in a market with high barriers to entry.
18. The opportunity cost of doing business.
20. An entity having the exclusive right or control over the selling of a product.

1. when resources are used to secure monopoly rights through the political process
2. The amount of money a firm receives from selling a product.
5. Refers to the way firms in a market relate to each other.
7. The increase in cost that occurs from producing one additional unit of output.
11. Occurs when a markets result of production is inefficient.
14. Involves breaking up a job into tasks and assigning those tasks to individuals.
16. Man-made resources used to create the final product.
17. Costs that do not vary with a firms output in the short run.
19. Incremental changes.