If at a given price, the amount by which quantity demanded exceeds quantity supplied, there is _____.

Brian is the sole proprietor of Long Voyage Software, which generates maps for nature trails. He started the business with an initial investment of $80,000. A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage for $5,000,000. Which of the following is true?

Exhibit 2.5​Refer to Exhibit 2.5, which shows the production possibilities frontier for capital goods and consumer goods. Suppose an influx of immigrants benefits the production of both consumer goods and capital goods. In this case, which of the graphs best illustrates the impact on the production possibilities frontier?

If a good is inferior, an increase in income would shift the _____

The law of supply implies that _____

A cost that has already been incurred and cannot be recovered is known as a(n)_____

¡Ojo! A general note from the SPPO Language Program Team On future assessments using HonorLock (quizzes, Midterm, etc.), PC users may not be able to type upside-down punctuation marks ( ¿ ¡ ). Simply proceed without the upside-down versions (? !) when using HonorLock, but continue to type accents and other special characters as normal. 

Exhibit 2.2​Refer to Exhibit 2.2, which shows the production possibilities frontier for Good A and Good B. Point g is efficient because _____

Government antitrust laws were designed to _____

Goods and services are bought and sold in: