Market Structure Review

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Across
  1. 4. Expenses a new business must pay before it can open
  2. 6. Secret cooperation among competing firms
  3. 10. _________competition: few sellers, different products, significant barriers to entry
  4. 12. Is the same no matter who sells it
  5. 14. formal agreement among producers to set prices
Down
  1. 1. _____competition: many buyers and sellers, identical products, little barriers to entry.
  2. 2. ____to entry, make it difficult for new firms to enter a market
  3. 3. A single seller in a market
  4. 5. ______discrimination: the ability to charge different prices to different groups
  5. 7. A few large firms control the market
  6. 8. Exclusive right to sell a product
  7. 9. Competing firms join into a single firm
  8. 11. The military is an example of a ______ monopoly.
  9. 13. _____power: ability to control prices