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Econ Search

Across
Total revenue-total cost=?
PXQ=?
A monopolistic company that can dictate the prices of its goods because there are no substitutes for it
A government imposed price control, or limit, on how high a price is charged for a product
A market structure in which only a few sellers offer similar or identical products
A market structure in which many firms sell products that are similar but not identical
The demand for the monopoly output is the ___
The difference between the total amount that consumers are willing and able to pay for a good or service
Down
A situation where firms can enter the market without restriction
The lowest legal price a commodity can be sold at
Measured as the difference between what producers are willing and able to supply for a good for and the price they actually receive
FC+VC=?
The quantity that minimizes average total cost
A monopoly is a price setter, not a ___ like a firm in perfect competition