Module Two Crossword Puzzle

Edit Answers
1234567891011121314151617181920212223
Across
  1. 1. / The total number of dollars a firm earns from the sale of a good or service, which is equal to its price multiplied by the quantity demanded.
  2. 4. / A legally established minimum price a seller can be paid.
  3. 6. / A situation in which market equilibrium results in too few or too many resources used in the production of a good or service.
  4. 9. / A good that competes with another good for consume purchases.
  5. 10. / A legally established maximum price a seller can charge.
  6. 11. / The opportunity costs of using resources owned by the firm.
  7. 13. / A condition in which the quantity demanded does not change as the price changes.
  8. 14. / A condition in which the percentage change in the quantity demanded less than the percentage change in price.
  9. 16. / A condition in which the percentage change in quantity demanded is greater than the percentage change in price.
  10. 19. / A condition in which a small percentage change in the price brings about infinite percentage change in quantity demanded.
  11. 20. / A condition in which the percentage change in the quantity demanded is equal to he percentage change in price.
  12. 21. / Any good for which there is a inverse relationship between changes in income and its demand curve.
  13. 22. / A cost or benefit imposed on people other than the consumers and producers of a good or service.
  14. 23. / Any good for which there is a good direct relationship between changes in income and its demand curve.
Down
  1. 2. / Payments to non-owners of a firm for their resources.
  2. 3. / A good that is jointly consumed with another good.
  3. 5. / A situation in which the long-run average cost curve declines as the firm increase output.
  4. 7. / Total revenue minus explicit and implicit costs.
  5. 8. / A market condition that occurs at any price and the quantity at which the quantity demanded and the quantity supplied are equal.
  6. 12. The change in total output produced by adding one unit of a variable input, with all other inputs used being held constant.
  7. 13. / The ratio of the percentage change in the quantity demanded of a product to a percentage change in its price.
  8. 15. / A good or service with two properties: (1) users collectively consume benefits and (2) there is no way to bar people who do not pay from consuming the good or service.
  9. 17. / The relationship between the maximum amounts of output that a firm can produce and various quantities of inputs.
  10. 18. / A curve or schedule showing the various quantities of product consumers are willing to purchase at possible prices during a specified period of time.