Name: ______Date: ______Monopoly crossword

1 D 2 P R O D U C T I V E E F F I C I E N C Y

N 3 N A

O M 4 R R I 5 X I N E F F I C I E N C Y M C

V A E

E L F 6 A B N O R M A L P R O F I T

U R I 7 M O N O P O L Y P O W E R O C

M F I

A I E 8 9 10 P R O F I T M A X I M I S A T I O N

A I O C 11 R M O N O P O L Y Y

K I O

E S P

T A O

F T L 12 S A L E S M A X I M I S A T I O N

I O S 13 L N A T U R A L M O N O P O L Y

U

R 14 A L L O C A T I V E E F F I C I E N C Y Across 11. this is a market structure where one Down 2. achieved when production is firm supplies all output in the market 1. - occurs when resources are achieved at lowest average cost without facing competition because of allocated efficiently over time 5. this can be known as organisational high barriers to entry to the market 3. the minimum level of profit needed slack and this inefficiency arising 12. occurs when the volume of sales is to keep a firm using its resources in a because a firm or other productive greatest, when the objective of a firm, market in the long term organisation fails to minimise its average this is usually subject to profit satisficing 4. occurs when total revenue is costs of production at a given level of constraint highest and when marginal revenue output 13. where economies of scale are so equals zero. 6. this is profit that is made over and large relative to market demand that the 9. where resources are inefficiently above the normal profit dominant producer in the industry will allocated due to imperfections in the 7. exists when firms are able to always enjoy lower costs of production working of the market mechanism than any other potential competitor control the price they charge for their 10. a firm that controls all the output in product in a market 14. occurs when scarce resources are a market 8. occurs when the difference used to produced a bundle of goods between total revenue and total cost is at which satisfies consumer preferences its greatest and maximises their welfare