Across
- 2. welfare lost when oligopolies restrict output and price above marginal cost
- 5. oligopolies price above this causing allocative inefficiency(2 words)
- 7. firms compete on how long products last rather than cutting price
- 8. real world oligopoly example
- 9. products are altered to attract consumers away from rivals
- 10. some oligopolies like steel sell near identical products
Down
- 1. significant innovations oligopolies can achieve through heavy R&D spending
- 3. blocks rivals from replicating innovations
- 4. massive startup costs deter new entrants(2 words)
- 6. oligopoly profits fund R&D and innovation(2)