AP Micro Vocab Puzzle (Home)

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Across
  1. 3. Used in order to increase profits and overall outputs
  2. 5. Price restrictions set in market
  3. 7. Not achieving maximum productivity
  4. 8. A monopoly that exists when increasing returns to scale provide a large cost advantage to having all output produced by a single firm
  5. 11. Sellers that set the price of a good
  6. 12. Occurs in markets that have few sellers or products that are not standardized. Does not meet the conditions of perfect competition.
  7. 13. The production of any particular good in the least costly way. Price=ATC
  8. 16. Products that are different from one firm to another
Down
  1. 1. When the mix of goods being produced represents the mix that society most desires. Price=MC
  2. 2. Price signals which determines allocation of resources through interaction of supply and demand
  3. 4. A market structure in which many competing firms sell differentiated products. Free entry and exit into the market in the long run.
  4. 6. Laws placed by the government to break up monopolies
  5. 9. An industry with only a small number of producers
  6. 10. The ability to raise and maintain price above the price that would exist under competition
  7. 14. The benefit obtained from consuming goods and services
  8. 15. Not controlled by any rule or law.