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Microeconomics Vocabulary Crossword

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Across
  1. 5. Quantities supplied at each price
  2. 9. Those things used to produce a good or service
  3. 10. Variables other than price that influence buyers' decisions
  4. 12. Total amount produced, Total Product
  5. 15. Study of the economy as a whole
  6. 17. Quantity consumers want to buy at one price
  7. 21. Advantage from lowest opportunity cost
  8. 22. Lower limit on prices
  9. 23. Total Cost divided by output
  10. 24. Buyers and Sellers of a good or service
  11. 26. The amount of money that must be paid to purchase a good
  12. 27. Benefits from specialization and trade
  13. 29. The economy as it is
  14. 31. Quantity sellers willing to sell at one price
Down
  1. 1. highest valued alternative foregone
  2. 2. Addition to Total Product from the last bit of labor used
  3. 3. The process of producing goods
  4. 4. Addition to Total Cost from last unit produced
  5. 5. Limitation in quantity
  6. 6. Quantities demanded at each price
  7. 7. Human effort in production
  8. 8. Total Revenue minus Total Cost
  9. 11. When quantity supplied is greater than quantity demanded
  10. 13. Addition to Total Revenue from last unit produced
  11. 14. Total Variable cost divided by Output
  12. 16. Buildings Machines and Equipment
  13. 18. Consumer responsiveness to changes in price
  14. 19. The economy as it should be
  15. 20. Upper limit on prices
  16. 25. Gaining one thing means losing another
  17. 28. When Total Costs exceed Total Revenue
  18. 30. Where demand equals supply
  19. 32. When quantity demanded is greater than quantity supplied