Supply Crossword

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Across
  1. 3. the application of scientific methods and discoveries to the production process, resulting in new products or new manufacturing techniques
  2. 5. each new worker causes total output to grow but at a decreasing rate
  3. 6. expenses that the owners of a business must incur whether they produce nothing, a little, or a lot
  4. 9. refers to the willingness and ability of producers to offer goods and services for sale
  5. 10. shows the data from the market supply schedule
  6. 12. a measure of how responsive producers are to price changes
  7. 14. having each worker focus on a particular facet of production
  8. 15. the amount of goods and services that a person can produce in a given time
  9. 18. product the change in total product that results from hiring one more worker
  10. 20. a table that shows how much of a good or service an individual producer is willing and able to offer for sale at each price in a market
  11. 22. the income a business receives from selling a product
  12. 24. each new worker adds more to total output than the last, as shown by the marginal product
  13. 25. the price of the resources needed to produce a good or service
Down
  1. 1. an increase or decrease in the amount of a good or service that producers are willing to sell because of a change in price
  2. 2. states that producers are willing to sell more of a good or service at a higher price than they are at a lower price
  3. 4. business costs that vary as the level of production output changes
  4. 7. adding fixed and variable costs together
  5. 8. a graph that shows how much of a good or service an individual producer is willing and able to offer for sale at each price
  6. 11. a table that shows how much of a good or service all producers in a market are willing and able to offer for sale at each price
  7. 13. the added revenue per unit of output, or the money made from each additional unit sold
  8. 16. the level of production where it realizes the greatest amount of profit
  9. 17. when something prompts producers to offer different amounts for sale at every price
  10. 19. the act of controlling business behavior through a set of rules or laws
  11. 21. the additional cost of producing one more unit of their product
  12. 23. a tax on the production or sale of a specific good or service