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