Puzzle Microeconomics

5. makes choices challenging everything is finite and runs out, leads to individual choice
6. government imposed max goods you can supply
9. An example of this externality is smoking a cigarette (2 words)
11. Efficiency where P=MC
12. The type of market where there is one producer of the good and there are no close substitutes
16. a good that is non-excludable and non-rival in consumption (2 words)
18. the problem that is caused by having no incentive to pay for a good because you'll still get the benefit (3 words)
19. a tax that does not have an affect the quantity produced or supply of the good (3 words)Nonrival in consumption two people can not use the good at the same time (3 words)

1. A firms maximum potential level of production (2 words)
2. The period of time in which there are fixed inputs (2 words)
3. Inputs that can be changed in the short run (2 words)
4. A good you must pay for
7. demand at a specific price (2 words)
8. a market that wants less workers and will have a lower wage rate than those of a perfectly competitive labor market
10. The type of good if your income goes up you buy more of it (2 goods)
13. Where the demand for factors if based on demand for the product (2 words)
14. An excess amount of the good supplied
15. study of scarcity and choice
17. demand Law that states as price goes up quantity demanded decreases (3 words)