Crossword Market structure

Solve the crossword:

				1	a
			2		d
					3v
			4		e
			5		r
		6			t
	7				i
8					s
			9		i
			10		n
		11			g

1. An industry in which economics of scale are so great that a single firm can produce the product at a lower average total cost than would be possible in more than one firm produced the product (kind of monopoly)

2. A group of (one or more) firms that produce identical or similar products

3. Slot machine

4. A cartel that controls the quantity and price of crude oil, exported by its members.

5. Any institution or mechanism that brings together buyers and sellers of a particular good and service.

6. A formal agreement among firms (or countries) in any industry to set the price of a product and establish the outputs of the individual firms (or countries) or to divide the market for the product geographically.

7. Total revenue minus total cost.

8. A situation in which firms act together and in agreement to fix prices, divides a market, or otherwise restricts competition.

9. A market structure in which there is typically nonprice competition.

10. A market structure in which the number of sellers is so small that each seller is able to influence the total supply and the price of the good or service.

11. The combination of two or more firms into a single firm.