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
体坛英语资讯:Kunming International Tennis Tournament kicks off in Yunnan
国际英语资讯:Japans Abe to explain controversial govt-funded cherry-blossom event in Diet if asked
体坛英语资讯:Saudi national football team visits West Bank for 1st time
国内英语资讯:Waste sorting adopted in 237 cities across China
中国未出现大面积“房地产泡沫”
国际英语资讯:News Analysis: Italy to move ahead with 2020 web tax despite intl pressures
上海“自由贸易试验区”将挂牌
体坛英语资讯:Kenyas Kosgei breaks world record at 2019 Chicago Marathon
国内英语资讯:CPPCC National Committee holds first open day
王金平“关说”案
台湾对菲八项“制裁”
体坛英语资讯:China cut pre-game press conference short ahead of FIFA World Cup qualifier
体坛英语资讯:Kipchoge nominated for IAAF Male Athlete of the Year
第三方支付机构获“跨境支付”牌照
欧盟“惩罚性关税”
薄熙来案“宣判”
“骑警”及各类警种的英文表达
什么是“汇率中间价”?
电子烟为什么引发肺部疾病?美国锁定了里面一种物质
体坛英语资讯:Saudi national football team visits Jerusalem shrine
国际英语资讯:5 killed, including 3 children, in Southern California shooting
国际英语资讯:NATO chief dismisses questioning about blocs unity, future
国际英语资讯:Egypt to host new round of talks on Nile dam issue
用好“批评和自我批评”的武器
国际英语资讯:Feature: Former U.S. Vice President Biden takes aim at gun violence at LA campaign rally
弃婴“安全岛”
《姜戈》“复映”
国内英语资讯:Chinese diplomat hails deepening ties with Ethiopia
盘点动物们的九大有趣行为
“阳澄湖大闸蟹”订单减少