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
额外奖励 Extra Reward
道歉 Apologize
我的业余爱好My Hobby
我的错误 My Fault
家乡的日落Sunset in My Hometown
我想要糖果 I Want Candy
我的哥哥My Brother
勇敢的尝试 Brave Try
我的缺点 My Weakness
开心的一天 A Happy Day
我想要学游泳 I Want to Learn Swimming
严厉的爸爸 My Severe Father
兴奋夜 Exciting Night
参观博物馆 Visiting the Museum
真正的朋友 The True Friend
平安夜 Christmas Eve
日本街头突现天坑 政府修复效率惊人
超人 Superman
我的毛衣 My Sweater
我最好的朋友My Best Friend
如果生命重来 If Life Comes Back Again
人山人海 The Crowded People
节约用水 Save Water
竞争 Competition
爱使我成长Love Makes Me Grow Up
六个词告诉你世界互联网大会为啥选在乌镇
难过的事情 The Sad Thing
一个勇敢的孩子 A Brave Child
放风筝 Flying the Kite
快乐至上Happiness Comes First
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