Across
- 1. Monopolies have high ____ to entry
- 5. The total cost of a transaction to the consumer and society = the ____ cost
- 7. Output per worker per hour/output per input
- 8. What to produce = a key ____ decision
- 9. ___ costs do not change with output
- 10. ____ cost = next best option given up
- 11. ___ of Labour = each worker has a specific task
Down
- 2. Demand/supply that is responsive to price changes
- 3. Goods commonly consumed together
- 4. Fertile soil, coal mines, the sea, solar power are examples of which factor of production?
- 6. When a few firms dominate a market
- 7. Total revenue - total costs =