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en
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XED : Abbreviation for the measure of the responsiveness of demand for one good to a change in the price of a related good
Compliment : A good which is consumed with another good
Elasticity : The word used in a economics to measure responsiveness of a variable to a change in a related variable
Demand : Quantity of a product that consumers are willing and able to buy at a given price in a given time period
Equilibrium : The level of output and corresponding price where
demand is equal to supply
ProducerSurplus : Additional benefit received by producers when they sell
a product at a higher price than they were willing to
supply
AdValoremTax : An indirect tax charged as a percentage of the selling
price of a product
OpportunityCost :The cost of a product in terms of the next best
alternative that is foregone
PublicGood : A non-rivalrous, non-excludable product that would not
be provided in a pure free market
SocialEfficiency : Occurs when MSC is equal to MSB
Revenue : Income earned by a firm. Price times Quantity
MeritGood :A good whose consumption creates positive externalities
of consumption
Substitute : A good which is consumed in place of another
good
PriceCeiling : The maximum price that a firm is allowed to charge for
a product
IndirectTax :Tax placed on the expenditure on a good or service
ConsumerSurplus : Additional benefit enjoyed by consumers when they
obtain a good for a lower price than they were willing
to pay for the product
InferiorGood : A good whose income elasticity of demand is
negative
PED : Abbreviation for the measure of responsiveness of
demand to a change in income
CeterisParibus : Latin expression meaning let other things remain
equal
PriceFloor : The minimum price that a firm is allowed to charge for
a product
Supply : The amount of a good that producers are willing and able
to produce at a given price in a given time period
MarketFailure : Where a market produces at a level of output where MSC is not equal to MSB
Across:3. | Abbreviation for the measure of responsiveness of | 5. | Income earned by a firm. Price times Quantity | 6. | | 9. | | 16. | A good whose income elasticity of demand is | 17. | The minimum price that a firm is allowed to charge for | 19. | | 20. | | 21. | An indirect tax charged as a percentage of the selling | 26. | A good which is consumed with another good | 28. | The level of output and corresponding price where | 31. | Occurs when MSC is equal to MSB | 32. | A good whose consumption creates positive externalities | 33. | | 34. | |
| | Down:1. | | 2. | | 4. | | 6. | | 7. | Abbreviation for the measure of the responsiveness of demand for one good to a change in the price of a related good | 8. | A good which is consumed in place of another | 10. | Tax placed on the expenditure on a good or service | 11. | The word used in a economics to measure responsiveness of a variable to a change in a related variable | 12. | | 13. | Where a market produces at a level of output where MSC is not equal to MSB | 14. | | 15. | Additional benefit enjoyed by consumers when they | 18. | The cost of a product in terms of the next best | 22. | Latin expression meaning let other things remain | 23. | A non-rivalrous, non-excludable product that would not | 24. | The maximum price that a firm is allowed to charge for | 25. | The amount of a good that producers are willing and able | 27. | Additional benefit received by producers when they sell | 28. | | 29. | Quantity of a product that consumers are willing and able to buy at a given price in a given time period | 30. | |
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© 2013
PuzzleFast.com, Noncommercial Use Only
Across:3. | Abbreviation for the measure of responsiveness of | 5. | Income earned by a firm. Price times Quantity | 6. | | 9. | | 16. | A good whose income elasticity of demand is | 17. | The minimum price that a firm is allowed to charge for | 19. | | 20. | | 21. | An indirect tax charged as a percentage of the selling | 26. | A good which is consumed with another good | 28. | The level of output and corresponding price where | 31. | Occurs when MSC is equal to MSB | 32. | A good whose consumption creates positive externalities | 33. | | 34. | |
| | Down:1. | | 2. | | 4. | | 6. | | 7. | Abbreviation for the measure of the responsiveness of demand for one good to a change in the price of a related good | 8. | A good which is consumed in place of another | 10. | Tax placed on the expenditure on a good or service | 11. | The word used in a economics to measure responsiveness of a variable to a change in a related variable | 12. | | 13. | Where a market produces at a level of output where MSC is not equal to MSB | 14. | | 15. | Additional benefit enjoyed by consumers when they | 18. | The cost of a product in terms of the next best | 22. | Latin expression meaning let other things remain | 23. | A non-rivalrous, non-excludable product that would not | 24. | The maximum price that a firm is allowed to charge for | 25. | The amount of a good that producers are willing and able | 27. | Additional benefit received by producers when they sell | 28. | | 29. | Quantity of a product that consumers are willing and able to buy at a given price in a given time period | 30. | |
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© 2013
PuzzleFast.com, Noncommercial Use Only