In perfect competition, the market price is established by ________.

Production is maximized where __________.

The value of any index in its base year is always _________.

A market structure, typically characterized by one, single seller.

Product differentiation is by _________.

Fiat money is based on?

Firms face perfectly elastic demand curves in ________.

Suppose the demand for pizza is inelastic.  If a pizzeria decided to decrease the price of pizza, total revenue would _________.

Macroeconomics is the study of an individual consumer and producer decisions.

Asset fixity means an asset does not have many alternative uses.