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