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
欧盟启动对华太阳能电池板反倾销调查
英语美文 Hints for Women to Revive Romance
10句最美的英文谚语 让微笑保持着青春不谢
The flame of love
妈妈与孩子
预报天气的印第安老人
爱需要宽容
英语美文 7 Steps Toward Love
道德与投资
Angels are Always There 天使一直在你身边
高科技企业到底有哪些移动业务?
用社交媒体选股
中国需求降温无阻国际酒店扩张
央视特色的中共十八大报道
天使
制造更加轻便灵活的防弹衣
不要停,继续弹
我与妈妈有个约会 Mamma
Care your dream
美共和党议员:勿与华为做生意
奥巴马对手言论未在中国引发强烈反响
1999年会出现经济衰退吗?
Hungry for Your Love 渴望你的爱
英国高校校长反对移民限制
Interview the God 与上帝对话
美大选主题:你比四年前过得更好吗?
英国向中国推销医保模式
钥匙(keys)还是接吻(kiss)
我最珍贵的奥林匹克奖
《恶灵入侵》夺得上周末北美票房冠军
| 不限 |
| 英语教案 |
| 英语课件 |
| 英语试题 |
| 不限 |
| 不限 |
| 上册 |
| 下册 |
| 不限 |