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6 Written Questions

6 Multiple Choice Questions

  1. Government payments that support a business or market.
  2. The amount of goods available.
  3. A table showing the relationship between various prices and the amount of good all firms in the market are willing to sell at each price.
  4. The sum of fixed and variable costs.
  5. The extra cost of producing on more unit of a product.
  6. What is the goal of a business?

5 True/False Questions

  1. Supply ScheduleA table showing the relationship between various prices and the amount of good one producer is willing to sell at each price.

          

  2. Supply CurveA table showing the relationship between various prices and the amount of good one producer is willing to sell at each price.

          

  3. Law of SupplyThe amount of goods available.

          

  4. Variable CostThe extra cost of producing on more unit of a product.

          

  5. Negative Marginal ReturnsWhen adding more workers results in increased production.

          

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