Title: Unit Test Review 2 Flashcards | Quizlet
Headings: Unit Test Review 2
Unit Test Review 2
Terms in this set (15)

Content: Which quality best describes a producer with an absolute advantage? efficient
The graph is a marginal cost curve that compares expenses for producing apple pies. According to the graph, the marginal cost begins to increase when the producer makes
four pies. Motherboards, Inc., manufactures computer parts. The company's total revenue is
the amount the company receives from the sale of all of its computer parts. Excess supply is created when price or move away from the equilibrium point. quantity
Why is pure competition considered an unsustainable system? Producers cannot make a profit if they keep dropping their prices. The highest amount a landlord can charge for rent is an example of
a price ceiling. Marginal shows how much money can be made if a producer sells one additional unit of a good.