Economic Principles 1 0.0 / 5 ? EconomicsEP1UniversityAll boards Created by: amyclaireCreated on: 05-01-19 17:16 89352107164 Across 1. Graphical expression of amount of output produced by any amount of input, describes differing tech capable of producing same thing (10, 8) 4. Value of assets/ equity stake (8, 5) 5. Reservation price of a potential seller, who will be willing to sell a unit only for a price at least this high (11, 2, 6) 10. Price minus MC divided by price, inversely proportional to elasticity of demand (5, 6) Down 2. Equipment, buildings and other durable inputs used to produce, including intellectual property (7, 5) 3. Firm has more orders for its output than it can fill (8, 11) 6. Trade off person willing to make between 2 goods, slope of indifference curve (3) 7. Financial asset where issuer promises to pay a given amount over time (4) 8. Innovation in management seeking to reduce labour costs, by dividing skilled jobs into separate less skilled tasks to lower wages (9) 9. Numerical indicator of value one places on an outcome, such that higher valued outcomes will be chosen (7)
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