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
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 10 American literature
福建省长泰一中2016届高三英语一轮复习:人教版必修三《Unit 4 Astronomy》课件
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 2 Crossing limits
创新设计2016版高考英语(译林版)总复习(同步训练):必修1Unit 3 Looking good,feeling good课前热身
2016届高考英语全新教程一轮总复习课件:模块2Unit 1 Tales of the unexplained(译林版江苏专用)
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 16 Finding jobs
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 5 Getting the message
2016届高考英语全新教程一轮总复习课件:模块1Unit 3 Looking good,feeling good(译林版江苏专用)
2016届高考英语全新教程一轮总复习课件:模块2篇首UNITS 1-3(译林版江苏专用)
【北师大版】2016高考英语一轮复习讲练精品学案:选修7 Unit 20 New Frontiers
【北师大版】2016高考英语一轮复习讲练精品学案:必修5 Unit 15 Learning
创新设计2016版高考英语(译林版)总复习(同步训练):必修1Unit 3 Looking good,feeling good基础经典习题
2016届高考英语全新教程一轮总复习课件:模块2Unit 3 Amazing peopl(译林版江苏专用)
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 6 Going West
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 9~12篇首
【北师大版】2016高考英语一轮复习讲练精品学案:必修5 Unit 13 People
2016届高考英语全新教程一轮总复习课件:模块1篇首UNITS 1-3(译林版江苏专用)
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 1~4篇首
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 3 The land down under
2016届高考英语全新教程一轮总复习课件:模块3Unit 3 Back to the past(译林版江苏专用)
【北师大版】2016高考英语一轮复习讲练精品学案:选修7 Unit 21 Human Biology
2016全新教程高考英语总复习(大纲版)课件:SBⅢ Units 12 Education
【北师大版】2016高考英语一轮复习讲练精品学案:选修6 Unit 18 Beauty
2016届高考英语全新教程一轮总复习课件:模块3篇首 UNITS 1-3(译林版江苏专用)
2016届高考英语全新教程一轮总复习课件:模块3Unit 1 The world of our senses(译林版江苏专用)
福建省长泰一中2016届高三英语一轮复习:人教版必修四 《Unit 1 Women of achievement》课件
【北师大版】2016高考英语一轮复习讲练精品学案:选修8 Unit 23 Conflict
2016届高考英语全新教程一轮总复习课件:模块1Unit 1 School life(译林版江苏专用)
创新设计2016版高考英语(译林版)总复习(同步训练):必修1Unit 2 Growing pains限时规范训练
福建省长泰一中2016届高三英语一轮复习:人教版必修四 《Unit 2 Working the land》课件
| 不限 |
| 英语教案 |
| 英语课件 |
| 英语试题 |
| 不限 |
| 不限 |
| 上册 |
| 下册 |
| 不限 |