A Curve Showing the Quantity of Exports Supplied at Various

question 239

Multiple Choice

A curve showing the quantity of exports supplied at various prices is called a(n)

• A)export demand curve.
• B)import demand curve.
• C)export supply curve.
• D)supply curve.
• E)import supply curve.

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Definitions:

Short-Run Total Cost

The total of all costs (fixed and variable) involved in the production of a good or service over a short period.

Production Function

A mathematical model that describes the relationship between input quantities and the resultant output of goods or services.

Labor

The utilization of human physical and mental capacities in the creation process of goods and services.

Factor Prices

The prices of the input resources (labor, capital, land, and entrepreneurship) used in the production of goods and services.