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) abovewww.zcyy8.com
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
2014人教新目标英语八下 unit9《Have you ever been to a museum》(第4课时)导学案
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2014人教新目标英语八下unit 2《I’ll help clean up the city parks》歌词素材
2014人教新目标英语八下unit 2《I’ll help clean up the city parks》周周清
2014人教新目标英语八下 unit7《What’s the highest mountain in the world》(第1课时)导学案
2014人教新目标英语八下 unit9《Have you ever been to a museum》(第1课时)导学案
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2014人教新目标英语八下 unit7《What’s the highest mountain in the world》(第3课时)导学案
2014人教新目标英语八下unit 2《I’ll help clean up the city parks》单元综合测试
2014人教新目标英语八下 unit9《Have you ever been to a museum》单词默写
2014人教新目标英语八下unit 2《I’ll help clean up the city parks》(第4课时)教案
2014人教新目标英语八下 unit9《Have you ever been to a museum》(第3课时)导学案
2014人教新目标英语八下 unit4《Why don’t you talk to your parents》(第4课时)导学案
2014人教新目标英语八下 unit5《What were you doing when the rainstorm came》(第5课时)导学案
2014人教新目标英语八下unit 2《I’ll help clean up the city parks》(第1课时)教案
2014人教新目标英语八下unit3《Could you please clean your room》第二课时教案
2014人教新目标英语八下 unit1《What’s the matter》b2练习题
2014人教新目标英语八下 unit5《What were you doing when the rainstorm came》(第3课时)导学案
2014人教新目标英语八下 unit7《What’s the highest mountain in the world》(第4课时)导学案
2014人教新目标英语八下 unit7《What’s the highest mountain in the world》(第5课时)导学案
2014人教新目标英语八下unit3《Could you please clean your room》第三课时教案
2014人教新目标英语八下unit3《Could you please clean your room》第四课时教案
2014人教新目标英语八下 unit5《What were you doing when the rainstorm came》(第4课时)导学案
2014人教新目标英语八下 unit5《What were you doing when the rainstorm came》(第1课时)导学案
2014人教新目标英语八下 unit1《What’s the matter》(第3课时)导学案
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