Across
- 2. the removal of government controls over a market
- 5. selling a product below cost for a short period of time to drive competitors out of the market
- 10. when two or more companies join to make one firm
- 13. market structure in which a few large firms dominate a market
- 14. market structure in which companies sell products that are similar but not identical
- 15. a formal organization of producers that agree to coordinate prices and production
- 17. laws that encourage competition in the market place
Down
- 1. way to attract customers through style, service, or location but not a lower price
- 3. any factor that makes it difficult for a new firm to enter a market
- 4. an illegal agreement among firms to divide the market,set prices, or limit production
- 6. factors that cause a producer's average cost per unit to fall as output rises
- 7. license that gives the inventor of a new product the exclusive right to sell it for a specific period of time
- 8. market that runs most efficiently when one large firm supplies all of the output
- 9. a contract that gives a single firm right to sell goods within a marketplace
- 11. series of competitive price cuts that lowers the market price below the cost of production
- 12. the expenses a new businesses must pay before it can begin to produce and sell goods
- 15. a product such as petroleum or milk that is considered the same no matter who produces or sells it
- 16. the division of groups based on how much they will pay for a good