Across
- 5. firm doesn't make direct money payment
- 8. cost paid in money by firm
- 9. cost of a firm's fixed factors of production
- 12. total variable cost per unit of output
- 15. market where small number of interdependent firms compete
- 17. marginal product of additional worker is less than marginal product of previous worker
- 19. total quantity of good produced in given time
- 21. market in which one firm sells a good/service that has no close substitutes and barriers blocking entry
- 22. market where many firms sell identical products and there are many buyers with no barrier to entry
- 23. as firm uses more of a variable factor of production, marginal product eventually decreases
Down
- 1. market where large number of firms compete by making similar but slightly different products
- 2. features of a firm's technology that make ATC rise as output increases
- 3. change in total product from one-unit increase in quantity of labor produced
- 4. features of a firm's technology that make ATC fall as the output increases
- 6. marginal product of additional worker exceeds marginal product of previous worker
- 7. cost of a firm's variable factor of production-labor
- 10. total product per worker employed
- 11. total fixed cost per unit of output
- 13. features of a firm's technology that keep ATC constant as output increases
- 14. total cost per unit of output
- 16. change in total cost from one-unit increase in output
- 18. cost of all factors of production used by firm
- 20. change in total revenue that results from one-unit increase in quantity sold