Econ 23
Social Studies
12th Grade
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Usually Rises as the rate of production increases.
Marginal Cost
Entrepreneurship
Market Competitionfor option 3
(optional)
Decrease
Rhule
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The various amounts of something a producer is willing and able to sell at different possible prices.
Supply
Marginal Cost
Entrepreneurship
Price System
suppy
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Exists when the price effect is substantial.
Elastic Supply
Supply
Marginal Cost
Market Competition
Price effect
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
People want to sell less of a product at all possible prices.
Decrease in Supply
Elastic Supply
Supply
Marginal Cost
Market Competition
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Producers want to sell more at higher prices than at lower prices.
Price Effect
Decrease in Supply
Elastic Supply
Supply
Marginal Cost
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Exists when the price effect is small.
=- Inelastic Supply
Price Effect
Decrease in Supply
Elastic Supply
Supply
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
=- A product is produced at A constant marginal cost when
the company's total cost rises by the same amount every time it increases production by one unit.
=- Inelastic Supply
Price Effect
Decrease in Supply
Elastic Supply
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