As you become more educated, you provide your environment with a ________

Compared with competitive markets, monopolies charge ______ prices and produce a ______ output.

In the table above at an output of four units the amount of normal profit is _________ .

The earliest written records of auctions are from _____.

The controller of a monopoly sets the price of goods by charging _____.

Refer to exhibit 3-14. at a price of $11, there is a ____________ unit ____________ of good x.

A change in a good’s own price leads to a change in quantity demanded

Simple circular flow model is An illustration of the continuous flow of

Markets where products are bought by households and sold by firms are called

Production possibilities curve is The available production technology that firms use to turn their inputs into outputs

An economy where government and the private sector determine the allocation of resources is called