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