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