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- 1. Multiple Choice
When producers offer fewer products for sale at the same prices
Supply curve shifts right
Supply curve shifts left
They expect subsidies
The price per unit has decrease
- 2. Multiple Choice
May business are online to help reduce
fixed costs are lower
operating costs never increase
variable costs eliminated
- 3. Multiple Choice
the amount of product producers are willing to bring to the market at any price.
quantity supplied
total product
theory of production
law of supply
- 4. Multiple Choice
in the short run, output will change as one input is varied while other stay the same
law of variable proportions
law of supply
law of demand
total product
- 5. Multiple Choice
total output produced by a firm
total product
quantity Demanded
quantity Supplied
Theory of Production
- 6. Multiple Choice
Suppliers will normally offer more for sale at high prices and less for sale at lower prices
Quantity supplied
Law of Supply
total production
short run
- 7. Multiple Choice
The relationship between the factors of production and the output of goods and services
total cost
short run
theory of production
negative returns
- 8. Multiple Choice
the sum of all costs associated with production
Total cost
short run
supply elasticity
negative returns
- 9. Multiple Choice
measure of the way in which quantity supplied responds to a change in price
short run
negative returns
Supply elasticity
long run
- 10. Multiple Choice
quantities offered at various prices by all firms that offer products for sale in a given market
total product
total cost
supply
market supply curve
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