The amount of a product that would be offered at all possible prices that could prevail in the market

The change in amount offered for sale in response to a change in price

The relationship between the factors of production and the output of goods and services

Fixed (or overhead), variable, total, and marginal

The desire, ability, and willingness to buy a product

This economic principle says that suppliers will normally offer more for sale at high prices and less at lower prices

When suppliers offer different amounts of products for sale at all possible prices in the market?

This states that, in the short run, output will change as one input is varied while the others are held constant

Total and marginal only

This states that the quantity demanded of a good or service varies inversely with its price

A listing of the various quantities of a particular product supplied at all possible prices in the market

Cost of inputs, productivity, technology, taxes and subsidies, expectations, government regulations, and number of sellers can each cause this

This schedule and graph illustrate the Law of Variable Proportions

A type of cost-benefit decision making that compares the extra benefits to the extra costs of an action

Consumer income, consumer tastes, substitutes, complements, change in expectations, and number of consumers can each cause this?

A graph showing the various quantities supplied at each and every price that might prevail in the market

a measure of the way in which quantity supplied responds to a change in price, of which there are 3 types

The extra output or change in total product caused by the addition of one more unit of variable input (usually workers)

The total output or total product the business needs to sell in order to cover its total cost

The extent to which a change in price causes a change in the quantity demanded

This shows the quantities offered at various prices by all firms that offer the product for sale in a given market

Unlike demand, these are production considerations only

Increasing returns, diminishing returns, and negative returns occur during these

This is reached when marginal cost and marginal revenue are equal?

Looking at the impact of a price change on the amount that consumers spend on a product at a particular price is also known as this