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Chapter 5 - Supply

Authored by Jordon Goodwin

Social Studies

10th Grade

Used 7+ times

Chapter 5 - Supply
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32 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

amount of a product offered for sale at all possible prices in a market

supply
breaking-even point
diminishing marginal return
fixed costs
long run

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

shows quantities offered at various prices by all firms that sell a product in a given market

market supply
breaking-even point
diminishing marginal return
fixed costs
long run

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

production period so brief that only variable inputs (labor) can be changed

short run
breaking-even point
diminishing marginal return
fixed costs
long run

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

production period length enough to change amount of all inputs used in production.

long run
breaking-even point
diminishing marginal return
fixed costs
market supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

stage of production at which output increases at a decreasing rate

diminishing marginal return
breaking-even point
fixed costs
long run
market supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

production expenses that do not change when output changes

fixed costs
breaking-even point
diminishing marginal return
long run
market supply

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

production expenses that change as output changes, such as labor or raw materials

variable cost
breaking-even point
diminishing marginal return
fixed costs
long run

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