Template Quiz

The additional benefit to a consumer from consuming one more unit of a good or service is called ❌.
The additional cost to a firm of producing one more unit of a good or service is called ❌.
A legally determined maximum price that sellers may charge is called a ❌.
A legally determined minimum price that sellers may receive is called a ❌.
The difference between the highest price a consumer is willing to pay and the price the consumer actually pays is called ❌.
The difference between the lowest price a firm would be willing to accept and the price it actually receives is called ❌.
The reduction in economic surplus resulting from a market not being in competitive equilibrium is called ❌.

marginal benefit
marginal benefit
marginal cost
marginal cost
price ceiling
price ceiling
price floor
price floor
consumer surplus
consumer surplus
producer surplus
producer surplus
deadweight loss
deadweight loss