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
英语六年级日记:我的一天
小学四年级英语课文Module 6
小学六年级英语作文:A Farewell Party
小学四年级英语课文Module 7 unit 1
小学六年级英语课文 lesson 15
英语六年级日记:在梦中
小学六年级英语作文:A Post Card from John
英语六年级日记:去公园玩
小学六年级英语课文 lesson 17
小学六年级英语课文 lesson 5 just read and speak
英语六年级日记:花园
小学六年级英语课文 Lesson 23
小学六年级英语作文:Zoom’s Weekend
小学三年级英语课文《Lesson 7 What’s for lunch?》教案
小学三年级英语课文《Lesson 6 What’s for breakfast?》教案
小学五年级英语课文 《unit2 what's your favourite season?》教案
小学六年级英语课文 lesson 1 just read and speak
小学四年级英语课文 MODULE 3
小学三年级英语课文《Lesson5 Breakfast Lunch and Supper》教案
小学四年级英语课文Module 4
英语六年级日记:我的周末
小学六年级英语课文lesson 13
英语六年级日记:下雨
小学四年级英语课文 Module 8
小学四年级英语课文Module 10
小学六年级英语课文 lesson 19
小学六年级英语作文:A Bad Cold
小学六年级英语课文Lesson 27
小学六年级英语作文:Tom’s Holiday
小学四年级英语课文UNIT 2
| 不限 |
| 英语教案 |
| 英语课件 |
| 英语试题 |
| 不限 |
| 不限 |
| 上册 |
| 下册 |
| 不限 |