Across
- 2. as each new worker causes total output to grow but at a decreasing rate
- 3. the change in total product that results from hiring more workers
- 5. are expenses that the owners of a buisness must incur
- 8. a graph that shows how much of a good or service an individual producer is willing and able to offer for a sale at each
- 10. the amount of goods and services that a person can produce
- 12. an increase or decrease im the amount
- 14. an increase in the price of goods or services results in an increase in the quantity that suppliers make available to the market.
- 15. the added revenue per unit of output
- 20. occurs when something prompts procedures to offer different amounts for sale at every price
- 22. of production by adding fixed and variable costs togethor
- 23. a measure of how responsive producers are to price changes
- 25. shows the data from the market supply schedule
Down
- 1. a table that shows the quantity supplied at each price.
- 4. is the income a buisness receives from selling a product
- 6. cost the addittional cost of producing more one more unit of their product
- 7. when the marginal cost and marginal revenue are equal
- 9. a tabular statement of the various quantities of the product that all the suppliers in the market are willing to supply at various price levels during a specific time period.
- 11. are the price of the recources needed to produce a good or service
- 13. act of controlling buisness behavior through a set of rules or laws
- 16. having each worker focus on a particular facet of production
- 17. involves the application of scientific methods and discoveries to the production process
- 18. are buinsess cost that vary as the level of production output changes
- 19. each new worker adds more to total output than the last
- 21. a tax on the production sale of a specific good
- 24. a stock of a resource from which a person or place can be provided with the necessary amount of that resource.