Options for Q1: cost / price / supply / demand / profit / revenue

Options for Q2: a constant / an increasing / a decreasing

Options for Q3: go up / go down

Options for Q4: decrease / stay the same

Options for Q5: cost / price / supply / demand / profit / revenue

Options for Q6: a constant / an increasing / a decreasing

Options for Q7: go up / go down

Options for Q8: increase / stay the same

Options for Q9: equilibrium point / breakeven point / inflection point

Options for Q10: cost=revenue / price=quantity / profit=0 / supply=demand

Options for Q11: a rectangle / a triangle / a curved shape

Options for Q12: dollars / $ per unit / units

Options for Q13: consumers spend / consumers save

Options for Q14: producers save / producers earn in extra revenue

Options for Q15: equal to pxq / larger than pxq / smaller than pxq

Options for Q16: pxq / integral / integral pxq / pxq - integral

Options for Q17: equal to pxq / larger than pxq / smaller than pxq

Options for Q18: pxq / integral / integral pxq / pxq - integral

Question 1 18 pts When dealing with consumer/producer surplus, answer the following questions. Consumer surplus requires us to know the [Select] function, which will be [ Select] function because as prices Select] , the quantity demanded will [Select ] Producer surplus requires us to know the [Select] function, which will be [Select] function because as prices (Select] the quantity supplied will [Select] The two curves we are analyzing will intersect at the [Select] which means [Select ] From the graphs we have seen, multiplying price x quantity will produce a shape that is [Select] that is measured in [Select] The consumer surplus represents the total amount of money (Select] while producer surplus measures the total amount of money [Select] To find consumer surplus, we integrate to find an area that is [Select] so we need to use [Select] To find producer surplus, we integrate to find an area that is Select] so we need to use [Select]