crossword
MICROECONOMICS
Down:
1: Axioms of consumer behaviour include ____, complete ordering, consistency, transitivity and nonsatiation.
2: If a good is so inferior that its income effect outweighs the substitution effect, it's a ____ good.
3: When the price elasticity of demand equals 0, it's called ____ ____ demand.
4: Diminishing marginal rate of substitution is the ____ of the indifference curve.
Across:
5: ____ ____ is determined by the tax per unit and the quantity consumer will buy after tax.
6: An ____ is the locus of all technologically efficient processes for producing a given quantity of output.
7: Total effect= Substitution effect + ____ effect.
8: A minumum price that is set above the equilibrium price creates a ____.
Answer:
1: rationality
2: giffen
3: perfectly inelastic
4: slope
5: government revenue
6: isoquant
7: income
8: surplus
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