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
答案: CABCA CDABD BCCAB
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:二、名词、冠词
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:六、情态动词和虚拟语气
2016高考英语总复习精选课件(江苏专用)牛津译林版选修6《Unit 4 Helping people around the world》
2016高考英语总复习精选课件(江苏专用)牛津译林版选修7《Unit 4 Public transport》
2016高考英语总复习精选课件(江苏专用)牛津译林版选修8《Unit 4 Films and film events》
2016高考英语总复习精选课件(江苏专用)牛津译林版选修8《Unit 2 The universal language》
2016高考英语总复习精选课件(江苏专用)牛津译林版选修8《UNIT1-2》句型公式妙笔生花
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:阅读理解(三)
2016年高考总复习优化英语课件(四川专用)写作教程:Module4
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:阅读理解(四)
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:书面表达(五)
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:书面表达(六)
2016年高考总复习优化英语课件(四川专用)写作教程:Module1
2016年高考总复习优化英语课件(四川专用)写作教程:Module2
2016高考英语总复习精选课件(江苏专用)牛津译林版选修8《Unit 1 The written world》
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:阅读理解(二)
2016高考英语总复习精选课件(江苏专用)牛津译林版选修7《Unit 1 Living with technology》
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:完形填空(三)
2016高考英语总复习精选课件(江苏专用)牛津译林版选修8《Unit 3 The world of colours and light》
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:书面表达(八)
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:十、状语从句
2016年高考总复习优化英语课件(四川专用)写作教程:Module5
2016年高考总复习优化英语课件(四川专用)写作教程:Module8
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:八、定语从句
2016年高考总复习优化英语课件(四川专用)写作教程:Module7
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:书面表达(三)
2016高考英语总复习精选课件(江苏专用牛津译林版)专项提能计划:完形填空(一)
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:七、时态和语态
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:九、名词性从句
2016高考英语总复习精选课件(江苏专用牛津译林版)语法专项突破:五、非谓语动词