Monopoly Key Terms

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Across
  1. 2. Charging a different price for the same good in different markets
  2. 3. One firm supplying all output int he industry without facing competition
  3. 4. Taking a firm into public ownership
  4. 7. Irretrievable costs that occur when a firm exits an industry
  5. 8. Obstacles that stop new firms entering a market
Down
  1. 1. Not reducing costs to their lowest level
  2. 2. Way of distinguishing a product from that of competitors
  3. 5. Reduction in consumer and producer surplus when output is restricted to less than optimum level
  4. 6. Setting a price so low that other firms will not enter the industry