Micro Word Search

2. a price _______ causes shortages
4. __________ revenue = _____________ cost
7. all the action that a firm takes will affect the other firm in the oligopoly
9. unlimited wants, limited resources
11. deadweight loss are the transactions that should occur but don't due to ______________ ___________
12. a unit of utility
13. beef and potatoes are an example of _____________ goods
16. price consumers are willing to pay minus the actual price is the __________ surplus
18. a price ________ causes surpluses
19. as income increases, people will buy more of normal goods and less of inferior goods

1. when one uses a product and others benefit from it, it is considered a ____________ externality
3. upper limit of a quantity that can be bought or sold
5. change in price causes a _____________ along the curve
6. if you buy the trader joe's oreos instead of the brand name oreos, you are buying an ___________ good
8. a PPC can have constant and increasing opportunity cost curves, but you can't have a ____________ opportunity cost curve
10. the demand from a resource is derived by product demand
13. a group that agrees to control the price and output of a product (plural)
14. good national defense is great example of a _____________ __________
15. pollution is an example of a ____________ externality
17. tax placed on a good that is imported or exported (plural)