Across
- 1. Obstacles to new firms entering a market.
- 3. The first female Prime Minister.
- 4. The proportion of the total market shared between the five largest firms.
- 7. Costs that are directly related to the level of output produced.
- 9. Costs that are independent of output produced.
- 10. Addition to total revenue from one additional sale.
- 12. Where a firm makes a reasonable level of profit that satisfies its stakeholders without maximising profit.
Down
- 2. The benefits gained through producing on a larger scale.
- 5. Quantity x Price
- 6. Price = Marginal Cost
- 8. Removal of regulations.
- 10. A single firm in a market.
- 11. A firm that has control over the market price.
- 13. Costs that can't be recovered if a firm ceases operation.