When there are more substitutes for a product, the ________ for the product is ________.

A corrective subsidy induces the ________ to the socially optimal level.

When demand is elastic, a price increase will cause __________ total revenues.

A ________ demand curve for shampoo would be caused by a change in the price of shampoo.

________ costs are the costs a company incurs as it makes sales.

_____ will most likely increase the economy's long-run aggregate supply.

The main characteristic of monopoly market structure is_________.

The long run average cost curve is also called as_________.

Production refers to ___.

Indifference curve approach was given by ___________

If demand is perfectly inelastic then e is _____.