Cost as a Factor in Supply
In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions. With no difference between his products and the products __1__ his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or __2__ the market price. However, in considering the price, he must take cost of production __3__. There are times when he may be willing to sell below his cost. This might happen when prices tumble for __4__ a short time. However, no business person can __5__ lose money for a prolonged period. He must __6__ of his costs in relation to the market price if he is to compete successfully and earn a profit.
Many people have the impression that as production increases, costs per unit decrease. __7__ mass production has made this true in certain industries and at certain levels of production, __8__ logic and practical experience have shown that costs per unit begin to rise beyond a certain level of production. Some economists __9__ this principle as the law of increasing costs.
The reason __10__ rise as production goes up is complex. However, it is easy to recognize that as production goes up, the need for additional factors of production will also grow, resulting __11__ competitive bidding in the marketplace for the factors of production. If a producer needs __12__ skilled labor to produce more, and none of this labor is unemployed, the producer will have to get __13__ from other sources. This can be done by __14__ higher wages. Higher bidding would also apply to the other factors of production. We must also recognize that not all labor is equally productive, __15__ not all land is equally fertile and not all ore is equally rich in the mineral wanted.
1. A) to B) at C) of D) on
2. A) below B) beneath C) over D) above
3. A) to consider B) into consideration C) to consideration D) in consideration
4. A) he believes will be B) what he believes be C) what he believes will be D) he believes to be
5. A) afford to B) be affordable C) be afforded to D) have afforded
6. A) constantly aware B) constantly knowledgeable of C) be constantly aware of D) constantly aware of
7. A) Because B) Since C) When D) While
8. A) both B) as well as C) also D) but
9. A) refer B) refer to C) call D) are referred to
10. A) cost B) the cost C) the costs D) costs
11. A) from B) in C) D) for
12. A) less B) numerous C) more D) many
13. A) them B) these C) it D) those
14. A) offering B) cutting C) reducing D) having
15. A) as just B) just as C) because D) while
KEYS:CABCA CDABD BCCAB
2015秋鲁教版英语九年Unit 12《Could you please tell me where the restrooms are》word单元检测题
2015秋鲁教版英语九年Unit 1《When was it invented》word单元综合与测试
2015秋牛津深圳版英语九上Unit 3《Family life》word单元测试题
2015秋牛津深圳版英语九上Unit 3《Family life》word词汇练习
2015秋鲁教版英语九年Unit 7《Life is full of the unexpected》word单元测试题
2015秋鲁教版英语九年Unit 11《What’s the highest mountain in the world》word单元检测题
2015秋鲁教版英语九年Unit 12《Could you please tell me where the restrooms are》word单元测试题
2015秋牛津译林版英语九上Unit 1《Know yourself》(Comic strip^Welcome to the unit)word同步练习
2015秋鲁教版英语九年Unit 3《It must belong to Carla》word单元检测题
2015秋鲁教版英语九年Unit 2《Teenagers should be allowed to choose their own clothes》word单元检测题
2015秋鲁教版英语九年Unit 9《It’s important to have good habits》word单元检测题
2015秋牛津译林版英语九年级上册期中测试卷2
2015秋鲁教版英语九年Unit 9《It’s important to have good habits》word单元测试题
2015秋鲁教版英语九年级下册期中检测题1
2015秋鲁教版英语九年级下册期中检测题
2015秋牛津深圳版英语九上Unit 2《Great minds》word单元能力训练
2015秋牛津译林版英语九年级上册期末测试卷
2015秋鲁教版英语九年Unit 8《We are trying to save the earth!》word单元检测题
2015秋牛津深圳版英语九上Unit 1《Wise men in history》word能力训练
2015秋牛津深圳版英语九上Unit 4《Problems and advice》word单元测验
2015秋鲁教版英语九年Unit 2《Teenagers should be allowed to choose their own clothes》word单元测试题
2015秋鲁教版英语九年Unit 4《I like music that I can dance to》word单元测试题
2015秋鲁教版英语九年级上册期末检测题
2015秋鲁教版英语九年Unit 1《When was it invented》word单元检测题
2015秋牛津深圳版英语九上Unit 4《Problems and advice》word能力训练
2015秋牛津深圳版英语九上Unit 2《Great minds》word单元检测题
2015秋牛津译林版英语九年级上册期末测试卷1
2015秋鲁教版英语九年Unit 3《It must belong to Carla》word单元测试题
2015秋牛津译林版英语九年级上册期中测试卷
2015秋鲁教版英语九年Unit 11《What’s the highest mountain in the world》word单元测试题