Economics Chapter 5

3. — A table showing the total quantity supplied by all producers at different prices.
4. — The additional cost of producing one more unit of output.
6. — A situation in which each additional worker adds less output than the previous worker.
10. — A situation in which each additional worker adds more output than the previous worker.
12. — The additional revenue earned from selling one more unit of output.
13. — A factor that can change and affect economic outcomes.
16. — A table showing the quantity supplied at different prices.
19. — The ongoing expenses required to run a business.
20. — As the price of a good rises, the quantity supplied rises, and as the price falls, the quantity supplied falls, ceteris paribus.
21. — A cost that does not change as production levels change.

1. — Total cost divided by the number of units produced.
2. — A graph showing the relationship between price and total quantity supplied in a market.
5. — A measure of how responsive quantity supplied is to changes in price.
7. — A government payment that helps reduce the cost of producing a good or service.
8. — The sum of all fixed and variable costs of production.
9. — The additional output produced by adding one more worker.
11. — The amount of a good or service producers are willing to sell at a specific price.
14. — A government rule that affects how businesses operate or produce goods and services.
15. — A tax imposed on the production or sale of a specific good or service.
17. — The quantity of a good or service producers are willing and able to sell at various prices.
18. — A graph showing the relationship between price and quantity supplied by a producer.