Across
- 2. Firms making products slightly different to gain market advantage.
- 5. A few large firms dominate the market.
- 7. Rules imposed by the government to control business practice.
- 8. Costs that cannot be recovered once spent.
- 11. Firms that accept the market price as given.
- 13. Additional revenue from selling one more unit.
- 14. Firms cooperating to set prices or production levels.
- 18. When quantity supplied exceeds quantity demanded.
- 20. Where supply equals demand.
- 23. The ability of a firm to influence prices.
- 24. Many firms selling differentiated products.
- 25. The total income from selling goods or services.
- 26. A single firm dominates the market, controlling prices.
- 27. Firms that can set prices in a market.
- 28. Economic inefficiency resulting from market distortions
- 29. When quantity demanded exceeds quantity supplied.
Down
- 1. Costs that vary with production output.
- 2. Maximum legal price a seller can charge for a product
- 3. The organization of a market based on competition.
- 4. Costs that do not change with production level.
- 6. Reducing average costs by increasing production.
- 9. A market with many buyers and sellers, no control over prices.
- 10. Minimum legal price set for a good or service.
- 12. A market where one firm can provide goods more efficiently than multiple firms.
- 15. The difference between the price producers receive and the minimum they would accept.
- 16. Setting production where marginal cost equals marginal revenue.
- 17. Setting price equal to the cost of producing one more unit.
- 19. Charging different prices to different consumers for the same product.
- 21. The difference between what consumers are willing to pay and what they actually pay.
- 22. The complete cost of production, including fixed and variable costs.