Across
- 1. Under perfect competition, what sets the equilibrium price in the market?
- 5. When two or more rival companies work together to limit competition
- 6. the monetary value of a product
- 7. A market situation in which the costs of production are lowest when only one firm provides output.
- 9. allow right owners to derive financial reward from the use of their works by others
- 11. This type of monopoly is based on ownership of a manufacturing method or process.
- 12. In this type of market structure two large sellers dominate the industry.
- 13. the maximum legal price that can be charged for a product
Down
- 2. a process that gives the inventor exclusive rights
- 3. a price-related variable
- 4. Uncompensated side effects
- 6. the minimum legal price that can be charged for a product
- 8. Due to this businesses reveal certain information to the public
- 10. one of the four Ps of marketing