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Econ Supply



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8 production level where the marginal product of labor increases as the number of workers increases
9 the cost of operating a facility such as a factory or a store
10 the cost of producing one more unit of a good
11 a cost that rises or falls depending on the quantity produced
12 the change in output from hiring one additional unit of labor
13 the additional income from selling one more unit of a good, may equal the price
15 government intervention in a market that affects the production of a good
16 a graph of the quantity supplied of a good at various prices of all suppliers of a good
17 a measure of the way quantity supplied reacts to a change in price
18 the amount of a good the producer is willing and able to supply at a specific price
1 producers will supply more of a good as the price increases, less as the price decreases
2 a cost that does not change, no matter how much of a good is produced
3 a graph of the quantity supplied of a good at various prices
4 the sum of fixed costs plus variable costs
5 a tax on the production or sale of a good
6 the total cost divided by the quantity produced
7 level of production where the marginal product of labor decreases as the number of workers increases
14 a government payment that supports a business or market
19 the amount of a good available
 
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