Mc = atc at the minimum of _________ .

Mc is a _____-shaped curve due to the law of diminishing returns.

Price gouging is _____

The demand will be _______________ if the consumer has _________ substitute goods to choose from

The most common pattern for marginal utility is ____________________.

Total demand is a function of three separate situations, which can be described as ___________.

Accounting profits are Total revenues minus total _______

Utility is ________ of Satisfaction

One unit of satisfaction is called

Total amount of satisfaction derived from the consumption of a certain number of goods or services is known as

Substitution effect is when a consumer’s switch to another similar good when the _____ of the preferred good increases