Across
- 3. The things a firm needs to make its output.
- 4. a firm who has some control over the price it charges.
- 6. A person who conceives and starts a business.
- 8. Additional revenue generated by the production and sale of one more unit of output.
- 9. Tangible out-of-pocket costs.
- 10. Things that convey information about profitability of various markets.
- 12. Where firms have little to no market power.
- 13. Restrictions that make it difficult for a new firm to enter a market.
- 15. When a small number of firms sell a product in a market with high barriers to entry.
- 18. The opportunity cost of doing business.
- 20. An entity having the exclusive right or control over the selling of a product.
Down
- 1. when resources are used to secure monopoly rights through the political process
- 2. The amount of money a firm receives from selling a product.
- 5. Refers to the way firms in a market relate to each other.
- 7. The increase in cost that occurs from producing one additional unit of output.
- 11. Occurs when a markets result of production is inefficient.
- 14. Involves breaking up a job into tasks and assigning those tasks to individuals.
- 16. Man-made resources used to create the final product.
- 17. Costs that do not vary with a firms output in the short run.
- 19. Incremental changes.