Micro Word Search

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Across
  1. 2. a price _______ causes shortages
  2. 4. __________ revenue = _____________ cost
  3. 7. all the action that a firm takes will affect the other firm in the oligopoly
  4. 9. unlimited wants, limited resources
  5. 11. deadweight loss are the transactions that should occur but don't due to ______________ ___________
  6. 12. a unit of utility
  7. 13. beef and potatoes are an example of _____________ goods
  8. 16. price consumers are willing to pay minus the actual price is the __________ surplus
  9. 18. a price ________ causes surpluses
  10. 19. as income increases, people will buy more of normal goods and less of inferior goods
Down
  1. 1. when one uses a product and others benefit from it, it is considered a ____________ externality
  2. 3. upper limit of a quantity that can be bought or sold
  3. 5. change in price causes a _____________ along the curve
  4. 6. if you buy the trader joe's oreos instead of the brand name oreos, you are buying an ___________ good
  5. 8. a PPC can have constant and increasing opportunity cost curves, but you can't have a ____________ opportunity cost curve
  6. 10. the demand from a resource is derived by product demand
  7. 13. a group that agrees to control the price and output of a product (plural)
  8. 14. good national defense is great example of a _____________ __________
  9. 15. pollution is an example of a ____________ externality
  10. 17. tax placed on a good that is imported or exported (plural)