Unit 4 crossword puzzle

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Across
  1. 3. a market structure in which many companies sell products that are similar but not identical
  2. 7. a formal organization of producers that agree to coordinate prices and production
  3. 8. the division of consumers into groups based on how much they will pay for a good
  4. 10. a monopoly created by the government
  5. 11. the money a firm receives for a good or service
  6. 13. an illegal agreement among firms to divide the market, set prices, or limit production
  7. 16. the ability of a company to control prices and total market output
  8. 18. a market in which a single seller dominates
  9. 19. factors that cause a producer’s average cost per unit to fall as output rises
  10. 21. a government-issued right to operate a business
  11. 22. a series of competitive price cuts that lowers the market price below the cost of production
  12. 24. an illegal grouping of companies that discourages competition; known better today as a monopoly
  13. 26. a product that is considered the same no matter who produces or sells it
  14. 28. a market structure in which a few large firms dominate a market
  15. 30. a market structure that fails to meet the conditions of perfect competition
  16. 32. any factor that makes it difficult for a new firm to enter a market
  17. 33. making a product different from other, similar products
Down
  1. 1. owned by shareholders (owned by many)
  2. 2. owned and operated by more than one person
  3. 4. owned and operated by one person
  4. 5. the expenses a new business must pay before it can begin to produce and sell goods
  5. 6. an agreement among firms to charge one price for the same good
  6. 9. a way to attract customers through style, service, or location, but not a lower price
  7. 12. a market that runs most efficiently when one large firm supplies all of the output
  8. 14. the legal obligation to pay debts/injury settlements incurred by the business
  9. 15. a market structure in which a large number of firms all produce the same product and no single seller controls supply or prices
  10. 17. selling a product below cost for a short period of time to drive competitors out of the market
  11. 20. the removal of some government controls over a market
  12. 23. laws that encourage competition in the marketplace
  13. 25. a contract that gives a single firm the right to sell its goods within an exclusive market
  14. 27. a certificate of ownership in a corporation
  15. 29. when two or more companies join to form a single firm
  16. 31. a license that gives the inventor of a new product the exclusive right to sell it for a specific period of time