Economic Perspective
Market System
Demand
Supply
Equilibrium
200
At 100,000 pizzas, the marginal benefit of a pizza exceeds the marginal cost of a pizza by this much in the figure shown here.
What is $10?
200
Households and businesses have these two roles in the circular flow diagram.
What is a buyer and a seller?
200
A decline in the price of gasoline has this effect on the demand for small cars, such as the Mini Cooper.
What is a decrease?
200
A technological advance has this effect on the supply of car tires.
What is an increase?
200
It's the amount of shortage apartments in this market if the monthly rent were $1000.
What is 10,000?
400
When starting a point "E" in this table, it's the cost of one more forklift.
What is 1/6 of a car?
400
With the resource prices shown here, it's the profit maximizing production technique.
What is technique B?
Technique A and C have costs of 35. Technique B has a cost of 34.
400
It's the amount of demand Tex has at a price of 6 in this table.
What is 12?
400
Creating a $10.50 subsidy to produce car tires has this effect on the supply of car tires.
What is an increase?
400
A sharp increase in the supply of apples and no change in demand for apples has this effect on the equilibrium price.
What is a decrease?
600
If you're given a $100 budget, can only buy staplers and pens, and if staplers cost $10 each and pens are $2.50 each, the opportunity cost of purchasing one stapler is this.
What is 4 pens.
600
It's the production technique you would use if the cost of capital increased from $2 to $4.
What is technique A?
Technique A has a cost of 39, B of 42, and C of 45.
600
It's the demander whose quantity demanded increases the most when the price decreases from $7 to $6.
Who is Tex?
600
It's the change in quantity supplied as the market price moves from $2 to $3.
What is 5?
600
The supply of bottled water and the demand for bottled water rise in summer, but supply increases more than demand, causing this to happen to the equilibrium price of bottled water.
What is decrease?