monoplies

2. a market structure in which many companies sell products that are similar but not identical
5. a license that gives the inventor of a new product the exclusive right to sell it for a specific period of time
6. the division of consumers into groups based on how many they will pay for a good
9. when two or more companies join to form a single firm
10. a market structure in which a few large firms dominate a market
12. an agreement among firms to charge one price for the same good
13. an illegal agreement among firms to divide the market, set prices, or limit production
14. laws that encourage competition in the marketplace

1. any factor that makes it difficult for a new firm to enter a market
3. selling a product below cost for a short period of time to drive competitors out of the market
4. a market that runs most efficiently when one large firm provides all of the output
7. the expenses a new business must pay before it can begin to produce and sell goods
8. the removal of government controls over a market
9. a market in which a single seller dominates
11. a government-issued right to operate a business