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) abovewww.zcyy8.com
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
体坛英语资讯:Leo Messi wants no mistakes in final title decider
体坛英语资讯:Nadal reaches quarters at Madrid Open
体坛英语资讯:Brazil defines World Cup list
体坛英语资讯:FC Barcelona beats Tenerife 4-1 to once again pressure Real Madrid
体坛英语资讯:Parker of France skips FIBA basketball worlds
体坛英语资讯:Iniesta unsure about return to Barcas title-decider
体坛英语资讯:FA boss resigns for World Cup bribe scandal
体坛英语资讯:Hawks dumps coach Woodson
体坛英语资讯:John Terry packs Chelsea with confidence
体坛英语资讯:Cubas Robles not to race against Liu Xiang in Shanghai
体坛英语资讯:Tiger Woods withdraws game with neck injury
体坛英语资讯:China powers into Uber Cup final
体坛英语资讯:Malaysian shuttlers seek Thomas Cup fame at home
体坛英语资讯:90 percent of FIFA World Cup tickets sold
体坛英语资讯:Mano Menezes attempts to resign as head coach of Corinthians
体坛英语资讯:Jankovic eases past Venus Williams in Rome
体坛英语资讯:DPRK coach discloses World Cup goal
体坛英语资讯:South African prisons ready for World Cup offenders
体坛英语资讯:Ronaldo worn out and uncertain about future
体坛英语资讯:Nadal looks forward to Madrid Open
体坛英语资讯:Reigning champion China secures group top at Thomas Cup
体坛英语资讯:Paraguayan president visits player Cabanas in hospital
体坛英语资讯:Atletico Madrid wins Europa League
体坛英语资讯:Bayern Munich seals double champions
体坛英语资讯:Inter win fifth straight Serie A title
体坛英语资讯:England aims high at World Cup
体坛英语资讯:Pele: Ronaldino to be big surprise of Brazil s national team
体坛英语资讯:Federer, Nadal reach semis in Madrid Masters
体坛英语资讯:Inter beats Roma 1-0 to win Italian Cup trophy
体坛英语资讯:Eagles galore as Kims share lead at GS Caltex Maekyung Open