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
2018-2019山东日照莒县一中高一下英语期中试卷答案
2018-2019浙江温州苍南县巨人中学高一试第一次月考数学试题
2018-2019上海川沙中学高一上第一次月考英语试卷
2018-2019山东日照莒县一中高一下英语期中试卷
2018-2019安徽淮南一中高一下第二次段考英语试题答案
河北武安2019-2020七上期中英语题
2018-2019安徽淮南一中高一下第二次段考英语试题
2019浙江温州广场路实验中七上英语期中卷答案
2018-2019上海嘉定二中高一上第一次英语质量检测答案
2018-2019山东枣庄薛城三中高一下6月月考英语试题
2018-2019贵州金沙中学高一下第三次月考英语试题答案
2018-2019黑龙江哈尔滨尚志中学高一下第三次月考英语试题
2018-2019湖南邵东四中高一下英语期中试题
2018-2019江苏南通中学高一下第一次月考英语试卷
安徽芜湖鸠江2019-2020第一学期期中卷
2018-2019辽宁朝阳凌源三校高一下第四次联考英语试题
2018-2019上海卢湾中学高一上10月月考英语试题答案
2018-2019山西忻州二中高一3月月考英语试题
2018-2019上海晋元中学高一上英语10月月考试题
2019学年杭州大关中学九年级英语月考卷
2018-2019河北枣强中学高一下第三次月考英语试题
2018-2019湖南茶陵三中高一下第三次月考英语试题
2018-2019上海嘉定二中高一上第一次英语质量检测
2018级临沂市普通高中学科素养水平英语检测试卷
2018-2019上海卢湾中学高一上10月月考英语试题
2018-2019吉林东北师大附中高一上第一次月考英语试题
2018-2019浙江温州苍南县巨人中学高一试第一次月考数学试题答案
2018-2019江西南昌东方明珠学校高一下5月月考英语试卷
河北邢台25中2019-2020第一学期期中题答案
2018-2019山西大同市灵丘县豪洋中学高一下第四次月考英语试题答案
| 不限 |
| 英语教案 |
| 英语课件 |
| 英语试题 |
| 不限 |
| 不限 |
| 上册 |
| 下册 |
| 不限 |