Across
- 4. when a few companies exert significant control over a given market. Together, these companies may control prices by colluding with each other, ultimately providing uncompetitive prices in the market.
- 5. Firm is able to choose the price of their product
- 6. oligopoly that involves cartels
- 7. the optimal use of society's source resources
- 9. the efficiency where price does NOT equal marginal cost
- 10. may occur if other firms don't follow price increases of the dominant firm
- 11. when a single company or entity creates an unreasonable restraint of competition in a market.
- 12. where many companies offer similar but differentiated products or services
Down
- 1. Practice selling the same products to different buyers at different prices
- 2. the efficiency where the firm is not producing at minimum ATC
- 3. any market that does not meet the ideal conditions of a perfectly competitive market
- 8. used for oligopolies, the study of how people behave in strategic situations
- 10. all companies offer homogeneous products, there are no barriers to entry, there are no influential buyers or sellers and there is complete transparency of goods.