Economics Crossword

2. a firm who has some control over the price it charges.
3. when resources are used to secure monopoly rights through the political process
6. The opportunity cost of doing business.
7. Refers to the way firms in a market relate to each other.
9. Man-made resources used to create the final product.
10. Tangible out-of-pocket costs.
11. Restrictions that make it difficult for a new firm to enter a market.
14. Additional revenue generated by the production and sale of one more unit of output.
17. Costs that do not vary with a firms output in the short run.
18. The amount of money a firm receives from selling a product.
19. When a small number of firms sell a product in a market with high barriers to entry.
20. The things a firm needs to make its output.

1. Occurs when a markets result of production is inefficient.
4. Where firms have little to no market power.
5. Incremental changes.
8. An entity having the exclusive right or control over the selling of a product.
12. Involves breaking up a job into tasks and assigning those tasks to individuals.
13. The increase in cost that occurs from producing one additional unit of output.
15. A person who conceives and starts a business.
16. Things that convey information about profitability of various markets.