When many buyers and sellers participate in the market it is an example of what?

In an oligopoly these tend to be high

A monopoly regulated by the government.

When many companies compete in an open market it is referred to as what?

This grants a firm the right to operate a business.

When these are high in a market, entrepreneurs tend to avoid the market.

In this case, the government allows just one firm in each geographic area to provide necessary service.

An agreement among members of an oligopoly to set prices and production levels.

Enables a monopolistic competitive seller to profit from the differences between his or her products and competitors' products.

A product that is identical regardless of who makes it, such as low-grade gasoline, notebook paper, and milk.

The Sherman Anti-trust act limited these types of company strategies.

An industry is called and oligopoly when the four largest firms are producing how much of the output?

Discounted airline fares are an example of which type of discount?

An alternative to competing on price and using other ways to lower prices.

When a firms start-up costs are high and average costs fall for every additional unit it produces.

A cartel is when formal organizations agree to coordinate what?

Telephone service was a natural monopoly until the invention of these devices.

This would be an outcome of collusion.

A National Park Service choosing a single firm to sell food and other goods to is an example of.

This is when there are disagreements among members of a firm, competitors cut their prices very low and is harmful for producers.

Without this ability a market may find it difficult to change outputs like a monopolist.

This popular board game names itself after popular market.

Airlines, trucking, banking, railroad, natural gas, and T.V broadcasting were this in the late 1970's and early 1980's.

This gives a company exclusive rights to sell a new good or service for a specific period of time.

Government policies, similar to cartels, that keep firms from controlling the price and supply of important goods.