Vocabulary

2. A cost that does not change.
6. The cost of producing one more unit of a good.
7. An increase in labor production due to an increase in workers.
8. The amount of goods available.
10. A factor that can change.
13. A way to measure how price affects the quantity.
17. A tax on the production or sale of a good.
19. A graph of the quantity supplied of a good by all suppliers at various prices.
20. The change in output by hiring more labor.
21. The sum of fixed costs plus variable costs.

1. A chart that lists how much of a good all suppliers will offer at various prices.
3. The range over which each additional unit of a variable factor adds less to total output than the previous unit.
4. A chart showing how much of a good will be offered at a given price.
5. The amount that a supplier is willing and able to supply at a specific price.
9. The additional income from selling on more unit of a good.
11. A cost that rices or falls depending on the quantity produced.
12. When producers offer more of a good as its price increases.
14. A graph of the quantity supplied of a good at various prices.
15. Government intervention in a market that affects the production of a good.
16. Given by government to encourage more production of a good and lower price.
18. The cost of operating a facility such as a factory or a store.