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Econ Chapter 3b '23

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Across
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Extra tax
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Supply can be inelastic in the ____ term, such as produce.
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The two main types of costs producers have are variable and
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One advantages of using a price system is that prices are
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A change in demand can be caused by a change in related
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The supply curve can shift as a result of a change in the price of
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A price ceiling will cause a
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A change in demand can be caused by a change in consumer
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Supply and demand cross at the ____ point
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Two goods that are bought and used together
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Fairness, administrative costs and disincentives to produce are all shortcomings of
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The more of an item you have, the less you want another is known as the law of diminishing
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not the _____ who points out how the strong man stumbles
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As prices increase, the number or producers in a market will increase.
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Ceteris paribus means all other things being held
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who at the best knows in the end the triumph of _____ achievement, and who at the worst, if he fails, at least fails while daring greatly,
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An increase in the ____ of the population can cause a change in demand
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only the ______demand curve shows demand for everyone
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The law of supply states that as prices go up, supply goes
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who strives valiantly; who _____, who comes short again and again, because there is no effort without error and shortcoming;
Down
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It is not the ______ who counts
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A price floor will cause a
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so that his place shall never be with those cold and timid _____ who neither know victory nor defeat.
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but who does actually strive to do the _____; who knows great enthusiasms, the great devotions;
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If the price of a good is _____ the equilibrium point, there will be a surplus of that good.
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or where the _____ of deeds could have done them better.
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One advantages of using a price system is that prices serve as ____ for when buyers should buy more of a product
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The direct exchange of one set of goods or services for another
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total cost equals total revenue is the break-even
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a factor which decisively affects the nature or outcome of something
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One advantages of using a price system is that provide
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If a consumer cannot postpone the purchase of a product, demand tends to be
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to distribute equitably without the use of prices
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If demand changes in response to a change in price, it is considered
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The period of production that allows producers to change the amounts of all inputs is the ____ run
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The marginal product of labor is the change in output which results from hiring ___ more worker
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A change in demand can be caused by a change in consumer
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______ spends himself in a worthy cause;
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A change in demand can be caused by a change in ____graphics
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Goods used in place of one another are called ____stitute goods
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The credit belongs to the man who is actually in the arena, whose face is marred by ____ and sweat and blood;