____________________: Producing right mix of goods
Fill in the blank(s) with the appropriate word(s).
Answer: Allocative efficiency
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Relative to an environment with free trade and no tariff, the winners from the tariff are the domestic ________, and the losers from the tariff are the domestic______. 
A. consumers of sugar and the government; producers of sugar B. producers of sugar; consumers of sugar and the government C. consumers of sugar; producers of sugar D. producers of sugar and the government; consumers of sugar
The above figure shows the U.S. market for chocolate. With international trade, ________ is the transfer of surplus from producers to consumers
A) area B +area C + area D B) area B C) area C + area D D) area A E) area E
The above figure shows the payoff matrix for two firms, A and B, choosing to produce a basic computer or an advanced computer
Now the payoff of the firm who produces a basic computer falls to 10 if the other firm chooses to produce an advanced computer. Then A) both firms will have dominant strategies. B) Nash equilibria will not change. C) joint profits will be maximized at the Nash equilibrium. D) Firm A and firm B will choose different actions.
In terms of opportunity cost, ________ is the ultimate constraint
a. information b. education c. creativity d. time