Joy Sodmont - market structure extra credit

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Across
  1. 2. exists when there are no other producers within a certain region
  2. 5. occurs when the costs of production are lowest with only one producer
  3. 7. is a company's percent of total sales in a market
  4. 10. occurs when the average cost of production falls as the product grows larger
  5. 13. occurs when there is only one seller of a product that has no close substitutes
  6. 14. a business that accepts the market price determined by supply and demand
  7. 16. occurs in markets that have few sellers or products that are not standardized
  8. 18. requires a firm to stop an unfair business practice
  9. 20. are the expenses that a new business faces when it enters a market
  10. 23. occurs when businesses set prices below cost for a time to drive competitors out of a market
  11. 24. a policy that requires businesses to reveal product information
  12. 26. defines monopolies and gives government the power to control them
  13. 27. is the effort to distinguish a product from similar products
  14. 29. exists when the government either owns and runs the business or authorizes only one producer
  15. 30. occurs when a firm controls a manufacturing method, invention, or type of technology
Down
  1. 1. occurs when many sellers offer similar, but not standardized, products
  2. 3. occurs when competing businesses divide a market amongst themselves
  3. 4. makes it hard for a new business to enter a market
  4. 6. a firm that does not have to consider competitors when setting the prices of its products
  5. 8. is the ideal model of a market economy
  6. 9. occurs when producers use factors other than low prices to try and convince customers to buy their products
  7. 11. a group that acts together to set prices and limit output
  8. 12. gives an inventor the exclusive property rights to that invention or process for a certain number of years
  9. 15. the joining of two firms to form a single firm
  10. 17. occurs when businesses agree to set prices for competing products
  11. 19. is a set of rules or laws designed to control business behavior
  12. 21. a group of firms combined in order to reduce competition in an industry
  13. 22. is a market structure in which only a few sellers offer a similar product
  14. 25. is one that consumers see as identical regardless of producers
  15. 28. is a moderated discussion with small groups of consumers