| Term | Answer |
| market structure that lacks one or more of the conditions of perfect competition | |
| the government is involved in the economy to prevent _________________ because they can hinder trade and competition. | |
| the government is involved in the economy to promote and encourage ________ | |
| situation in which average cost of production falls as the firm gets larger | |
| a monopoly that is based on ownership or control of a manufacturing method, process, or scientific advance | |
| this outlawed price discrimination | |
| in this market structure, there is only one firm in the market | |
| receiving a drain on your lawn from a neighbor's sprinkler system is an example of a _________. | |
| this outlawed restraints and monopolies that hindered trade | |
| formal agreement to set prices or to behave in a cooperative manner | |
| this market structure has extensive influence over price | |
| in this market structure, firms have no influence over price, there are many firms, and it is easy to enter the market | |
| real or imagined differences between competing products | |
| exclusive right of authors and artists to publish, sell, or reproduce their work | |
| exclusive right to manufacture, use, or sell any new and useful machine | |
| Under ____________ no seller sells a product above the prevailing market price | |
| this market structure is the 2nd most competitive | |
| legally formed combination of corporations or companies | |
| Public goods are usually provided by the ________, not the market. | |
| what would changing the color or size of packaging a product represent? | |