Across
- 5. combination of two or more companies into single firm
- 9. formal organization of producers that agree to coordinate prices and production
- 10. few large firms dominate market
- 12. ability of company to change prices and output like a monopolist
- 15. partners share equally responsibility and liability
- 16. legal entity owned by individual stockholders
- 17. functions like a business but does not operate for purpose of generating profits
- 18. single seller
- 20. many companies sell products that are similar but not identical
- 21. agreement among firms to charge one price for same good
- 22. legally bound obligation to pay debts
Down
- 1. agreement among firms to divide market, set prices, or limit production
- 2. only one partner is required to be general partner
- 3. division of customers into groups based on ow much they will pay for good
- 4. large corporation that produces and sells its goods and services throughout the world
- 6. producer's average cost per unit fall as output rises
- 7. expenses a firm must pay before it can open
- 8. establishment formed to carry on commercial enterprise
- 9. business organization owned and operated by group of individuals
- 11. large number of firms producing the same product
- 13. difficult for new firm to enter market
- 14. business owned and managed by one person
- 19. right to sell good or service within exclusive market