In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions. With no difference between his products and the products (51) his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or (52) the market price. However, in considering the price, he must take the (53) of production into consideration. There are times when he may be willing to sell below his cost. This might happen when prices tumble for (54) he believes will be a short time. However, no business person can (55) to lose money for a prolonged period. He must be constantly (56) of his costs in relation to the market price if he is to compete successfully and earn a profit.
Many people have the impression that as producti
A. below
B. beneath
C. over
D. above
In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions. With no difference between his products and the products (51) his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or (52) the market price. However, in considering the price, he must take the (53) of production into consideration. There are times when he may be willing to sell below his cost. This might happen when prices tumble for (54) he believes will be a short time. However, no business person can (55) to lose money for a prolonged period. He must be constantly (56) of his costs in relation to the market price if he is to compete successfully and earn a profit.
Many people have the impression that as producti
A. to
B. at
C. of
D. on
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