Iain Walker Presents... a Crossword!

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Across
  1. 1. A firm that has control over the market price.
  2. 2. Costs that are independent of output produced.
  3. 6. Price = Marginal Cost
  4. 8. The benefits gained through producing on a larger scale.
  5. 12. Costs that can't be recovered if a firm ceases operation.
  6. 13. The first female Prime Minister.
Down
  1. 1. Where a firm makes a reasonable level of profit that satisfies its stakeholders without maximising profit.
  2. 3. Addition to total revenue from one additional sale.
  3. 4. The proportion of the total market shared between the five largest firms.
  4. 5. Costs that are directly related to the level of output produced.
  5. 7. Removal of regulations.
  6. 9. A single firm in a market.
  7. 10. Quantity x Price
  8. 11. Obstacles to new firms entering a market.