Across
- 3. a market that runs most efficiently when one firm provides all the output
- 4. when two or more companies join to form a sing firm
- 6. a product, such as eggs that is considered the same no matter who produces or sells it
- 9. a market structure in which a few large firms dominate a market
- 11. any factor that makes it difficult for a new firm to enter a market
- 12. a market in which a singular seller dominates
- 14. a market structure in which many companies sell products that are similar but not identical
Down
- 1. the division of consumers into groups based on how much they will pay for a good
- 2. a market structure in which a large number of firms all produce the same product and no singular seller controls supply or prices;also called perfect competition
- 5. a license that gives the investor of a new product the exclusive right to sell it for a specific period of time
- 7. an illegal agreement among firms to change one price for the same good
- 8. a way to attract customers through style service or location rather than a lower price
- 10. the expenses a new business must pay before it can begin to produce and sell goods
- 13. a government-issued right to operate a business