Market Structure Crossword
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
 
 
Down: 1) a situation in which entry into and exit from an industry are complete and economic profits are zero, with price (P) equal to average total cost (ATC). 2) a situation in which different groups of consumers are charged different prices for the same good.3) open cooperation of firms to make mutually beneficial pricing or production decisions.5) an industry characterized by few firms selling the same product with limited entry of other firms6) a market in which the threat of competition is enough to encourage firms to act like competitors. 7) a branch of applied mathematics with many uses in economics, including the analysis of the interaction of firms that take each other's actions into account. 9) a situation in which long-run average total cost declines as the output of a firm increases.11) total revenue minus total costs, where total costs exclude the implicit opportunity costs; this is the definition of profits usually reported by firms.13) the price-setting firm in a collusive industry in which other firms follow the leader.14) a set of strategies from which no player would like to deviate unilaterally.15) anything that prevents firms from entering a market. 19) a group of producers in the same industry who coordinate pricing and production decisions. Across: 4)  total revenue minus total costs, where total costs include opportunity costs, whether implicit or explicit. 8) trade between countries in goods from different industries.10) a group of firms producing a similar product12) a single firm in an industry in which average total cost is declining over the entire range of production and the minimum efficient scale is larger than the size of the market.13) the difference between price and marginal cost divided by the price. This index is an indicator of market power, where an index of 0 indicates no market power and a higher price-cost margin indicates greater market power.16) a firm that has the power to set its price, rather than taking the price set by the market.17) costs of production that are higher than the minimum average total cost.18) the effort by firms to produce goods that are slightly different from other types of goods. 20) a curve traced out by the intersections of demand curves shifting to the right and the corresponding short-run supply curves.21) the amount of accounting profits when economic profits are equal to zero22) movement of firms into and out of an industry that is not blocked by regulation, other firms, or any other barriers. 23) a firm's power to set its price without losing its entire share of the market.24) one firm in an industry selling a product for which there are no close substitutes.
 

 

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