Economics Chapter 1

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Across
  1. 2. total revenue-total explicit costs
  2. 4. the market value of input a firm uses in production
  3. 5. the process of making decisions with scarce resources
  4. 8. total revenue-total costs
  5. 10. a person who directs resources to achieve a stated goal
  6. 11. total revenue-total cost
  7. 12. cost the additional cost of producing one more unit
Down
  1. 1. indirect
  2. 3. direct payment of money
  3. 6. anything used to produce a good
  4. 7. the ammount a firm recieves from the sale of its output
  5. 9. analysis comparing marginal benefit vs marginal cost
  6. 10. the study of how to direct scarce resouces in the way that most efficiently achieves a goal.