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ECON Topic #3.4 - 3.6

Full Name:
Period:
Horizontales
Tax on the production or sale of a good.
The amount of a good or service that is available.
The change in output from hiring one more worker.
Total cost divided by the quantity produced.
The sum of fixed and variable costs.
Measures how much firms will respond to changes in the price of a good or service.
Costs that rise or fall depending on the quantity produced.
Producers offer more of a good or service as its price increases and less as its price falls.
Verticales
Factors that can change.
The relationship between price and quantity supplied for a specific good or service, or how much of a good or service a supplier will offer at various prices.
Additional cost of producing one more unit.
The relationship between prices and the total quantity supplied by all firms in a particular market.
Cost of operating the facility.
Government payment that supports a business or a market.
Cost that does not change, no matter how much of a good is produced.