Craig Pentland - Micro Crossword

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Across
  1. 5. A cost or benefit that is imposed onto society by consumption or production of a good
  2. 6. Goods that are both nonrival and nonexcludable
  3. 9. When one firm hires all labor in a market
  4. 10. Price where quantity supplied equals the quantity demanded
  5. 11. Basic problem in economics
  6. 13. Goods produced abroad but consumed domestically
  7. 15. Goods that are both rival and excludable
  8. 16. A group with buyers and sellers of a good or service
  9. 17. Tax where the proportion of income paid in taxes rises as income rises
  10. 18. A good with high income elasticity
  11. 19. When the government pays for the production of a good
Down
  1. 1. Revenue minus costs
  2. 2. Production of goods based on comparative advantage
  3. 3. One firm, high barriers to entry, differentiated products
  4. 4. When quantity supplied exceeds the quantity demanded
  5. 7. The price of a good multiplied by the quantity of that good sold
  6. 8. Measures the sensitivity, or responsiveness, of a choice to a change in an external factor
  7. 9. The next unit, or increment of, an action
  8. 11. When quantity demanded exceeds the quantity supplied
  9. 12. Goods and services produced domestically but sold abroad
  10. 14. Unit of happiness