Across
- 5. does monopoly benefit customers?
- 7. what describes factors that can limit competition or even to prevent newcomers to the market?
- 8. can both markets earn supernormal profits in a short run?
- 9. the price where demand and supply are equal
- 10. the market that has firms with high market share
Down
- 1. the actions of buyers and sellers that cause the prices of goods and services to change without being controlled by the government.
- 2. A product's demand is more ___ if a change in price results in a large change in quantity demanded.
- 3. the price where demand and supply are not equal
- 4. the farm that has no competitors
- 6. ____ + cost = profit/loss