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 If a graph is used to compare total revenue and total cost of a perfectly competitive firm, then the horizontal axis of the graph will represent the __________ and the vertical axis will represent ________________________________.

Allowing workers to focus on the parts of the production process where they have an advantage is called:

Which branch or area of economics looks at individual agents within the economy?

You were presented with a utility maximizing rule which states: If you always choose the item with the greatest marginal utility per dollar spent, when your budget is exhausted, the utility maximizing choice should occur where the marginal utility per dollar spent is the same for both goods.     That rule is expressed as follows:

Which macroeconomics policy focuses on government spending and taxes?

When a firm invests in new technology, the _____________________ that the firm receives are _____________________.

 A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. From this information, we can assume:

Say that a tax on alcohol leads to a higher price at the liquor store. Which of the following is NOT likely to occur?

A pollution charge gives a profit-maximizing firm an incentive to reduce its emissions with what condition?

Examples of economic resource include: