Market Structures and Business Organizations

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Across
  1. 3. legally bound obligation to pay debts
  2. 8. functions like a business but does not operate for purpose of generating profits
  3. 10. formal organization of producers that agree to coordinate prices and production
  4. 14. many companies sell products that are similar but not identical
  5. 15. agreement among firms to divide market, set prices, or limit production
  6. 16. expenses a firm must pay before it can open
  7. 17. producer's average cost per unit fall as output rises
  8. 19. combination of two or more companies into single firm
  9. 20. difficult for new firm to enter market
  10. 21. business organization owned and operated by group of individuals
  11. 22. agreement among firms to charge one price for same good
  12. 23. legal entity owned by individual stockholders
Down
  1. 1. single seller
  2. 2. ability of company to change prices and output like a monopolist
  3. 4. large corporation that produces and sells its goods and services throughout the world
  4. 5. partners share equally responsibility and liability
  5. 6. division of customers into groups based on ow much they will pay for good
  6. 7. only one partner is required to be general partner
  7. 9. large number of firms producing the same product
  8. 11. business owned and managed by one person
  9. 12. establishment formed to carry on commercial enterprise
  10. 13. few large firms dominate market
  11. 18. right to sell good or service within exclusive market