Question: Please help put together some ideas (as many words as you can), describing the supply and demand side of the product/market regarding the following concepts:

Please help put together some ideas (as many words as you can), describing the supply and demand side of the product/market regarding the following concepts:

1 Utility 2. Income Effect 3. Substitution Effect 4. Budget Constraint 5. Util 6. Utility Function 7. Consumption Bundle 8. Optimal Consumption Bundle 9. Consumption Possibilities 10. Production Function 11. Marginal Product 12. Long Run 13. Short Run 14. Marginal returns to an input 15. Returns to Scale 16. Fixed Cost 17. Variable Cost 18. Total Cost 19. Fixed input 20. Variable input.

If you are unable to use any of the previous concepts you can use any of these five concepts, as a replacement:

1. Government Regulations 2. Elasticity 3. Factors of Production 4. Consumer Taste 5. Inferior Good/Normal Good

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