i Safari File Edit View History l?' OLDS COLLEGE 7 is ECN10104140118(FA22) Participants Grades ECN 1010 - Microeconomics Economics Toolkit Cl C1apter'l The Economic Problem [:1 Cwapter 2 Demand and Supply: An Introduction CI C'lapter 3 - Demand and Supply: An Elaboration Cl Cwapter 4 - Elasticity CI C'lapter 5 - Consumer Cwoice Cl C'tapter 6 A Firm's Production Decisions and Costs in the Short Run Q Bookmarks a IChegm Window 0 El Final Ex\". Help Quiz navigation 1 2 3 4 5 6 E!!:!! 7 8 9 10 11 12 E!!!!! 13 14 15 16 17 18 !!!!!! 19 2O 21 22 23 24 !!!!!: 25 26 27 28 29 30 31 32 33 34 35 36 :E!!!! 37 38 39 4O 41 42 E!!!!! 43 44 45 46 47 48 !!!::! 49 50 51 52 53 54 !!!!!: 55 56 57 58 59 60 :!!!!! 61 62 63 64 65 66 En...- 67 E 3 I Dashb._ a My Courses ' Olds College Resources ' Student Support V Sun Dec 11 2232 PM 911122 L (a 1; 55> 2 - 4w 0 9 (2) Ne.\" ' '3 Emmanuel Mukolo I H ocmoodleoldscollegetca Z [Solve._ a DAZN... 0 Watch... in lg sign in Question 75 Match the correct term to the description: Not yet answered I Points out of 11.00 sat Nonexcludable the difference between the list price and the price the consumer can negotiate The cumulative difference between the price producers receive and the price they require in order to produce The difference between the suggested retail price and the actual cost Described as Externalities none of the available choices Allocative efficiency Society would prefer more of this product being produced Society would prefer less of this product being produced The sum of consumer surplus and producer surplus The difference between tax revenue and government expenditure External benefits Productive efficiency Nonrival The cumulative difference between what consumers are willing to pay and the price they actually pay External costs price is equal to its marginal costs this is known as: Choose\". 1 If a product is being produced at pM the lowest possible short and lllllll JD: 'El Safari File Edit View History Bookmarks Window Help 11122 Q Sun Dec 11 2:32 PM ocmoodle.oldscollege.ca () C + 88 H Olivers wu Lesso... c | Cheg... Final Ex... Dashb... Sign in Solve... D DAZN.. Watch... ) (2) Ne... 90 Watch... UFC 2... ne OLDS COLLEGE OF AGRICULTURE & TECHNOLOGY My Courses Olds College Resources Student Support 3 Emmanuel Mukolo ECN 1010-41-40118 (FA22) 78 If a product is being produced at the lowest possible short and Participants 84 long-run average costs this is Choose... known as: 90 Grades The impossibility of preventing 96 non-buyers from enjoying the D ECN 1010 - Microeconomics benefits of a product is known Choose... as: Economics Toolkit When one person's Chapter 1 - The Economic consumption doesn't reduce the Choose... Problem amount available for others this is PM known as: Chapter 2 - Demand and What is the term for the Supply: An Introduction production of that combination of products Choose... G Chapter 3 - Demand and which best satisfies consumers' PM Supply: An Elaboration demands? G Chapter 4 - Elasticity PM Chapter 5 - Consumer Choice Previous page Next page Chapter 6 - A Firm's Production Decisions and PM Costs in the Short Run DEC 11 *tv O X TSnSafari File Edit View History Bookmarks Window Help 11122 Q 8 Sun Dec 11 2:32 PM ... ocmoodle.oldscollege.ca () C + 88 H Olivers wu Lesso... c | Cheg.. Final Ex.. Dashb... Sign in Solve.. D DAZN.. Watch... ) 8(2) Ne. 90 Watch... UFC 2... ne OLDS COLLEGE OF AGRICULTURE & TECHNOLOGY My Courses Olds College Resources Student Support 3 Emmanuel Mukolo 6 Points out of 11.00 ECN 1010-41-40118 (FA22) 12 Consumer surplus is the value Participants of Choose... 18 Economic surplus is: Grades Choose... 24 If the price of a product is less D ECN 1010 - Microeconomics than its marginal social costs, Choose... 30 then: Economics Toolkit 36 Producer surplus is the value of: Choose... Chapter 1 - The Economic 42 The costs that are suffered by Problem people other than the Choose... PM 48 producers or consumers of a O Chapter 2 - Demand and product are known as: Supply: An Introduction 54 The benefits that are enjoyed by people other than the G Chapter 3 - Demand and 60 PM producers or consumers of a Choose... Supply: An Elaboration product are known as: 66 Chapter 4 - Elasticity If a product is produced where its 72 price is equal to its marginal Choose... costs this is known as: PM Chapter 5 - Consumer Choice 78 If a product is being produced at the lowest possible short and Chapter 6 - A Firm's 84 long-run average costs this is Choose... Production Decisions and known as: PM Costs in the Short Run 90 The impeccibility of preventing DEC 11 O mm O X TSn C