Economics Ch 5 Supply

2. a cost that rises or falls depending on the quantity produced
4. a level of production at which the marginal product of labor decreases as the number of workers increases
6. the amount of goods available
7. a factor that can change
10. a cost that does not change, no matter how much of a good is produced
12. a graph of the quantity supplied of a good at various prices
14. the additional income from selling one more unit of a good; sometimes equal to price
16. the amount that a supplier is willing and able to supply at a specific price
17. the change in output from hiring one additional unit of labor
18. the sum of fixed costs plus variable costs
19. a graph of the quantity supplied of a good by all suppliers at various prices

1. a level of production in which the marginal product of labor increases as the number of workers increases
3. the cost of producing one more unit of a good
5. a chart that lists how much of a good a supplier will offer at various prices
8. the total cost divided by the quantity produced
9. a measure of the way quantity supplied reacts to a change in pace
11. the cost of operating a facility, such as a factory or a store
13. a chart that lists how much of a good all suppliers will offer at various prices
15. producers offer more of a good as its price increases and less as the price falls