Across
- 1. a group of firms acting in unison
- 3. a market structure in which many firms sell products that are similar but not identical
- 9. the benefits that arise when two companies merge
- 11. when one company lowers its prices to drive another out of business
- 13. a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms
Down
- 1. an agreement among firms in a market about quantities to produce or prices change
- 2. a corporation made up of a number of different, seemingly unrelated businesses
- 3. the change in total revenue from an additional unit sold
- 4. the business practice of selling the same good at different prices to different customers
- 5. passed in 1890 to reduce market power of trusts that dominated the economy
- 6. a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
- 7. a market structure in which only a few sellers offer similar or identical products
- 8. total revenue divided by the quantity sold
- 10. a firm that is the sole seller of a product without close substitutes
- 12. a cost that has already been committed and cannot be recovered