ответьте на вопросы по тексту , нужно Theory of Supply.
1. What is the principal assumption of the supply theory?
2. What is the difference between profit and revenue?
3. What is included in costs of production?
4. How do firms get maximum profits?
5. When are profits the highest?
6. When should firms close down?
7. What is the relationship between marginal revenue, marginal cost and output?
8. What is market supply? What is market supply important for?
Theory of Supply
The theory of supply is the theory of how much output firms choose to Produce. The principal assumption of the supply theory is that the producer W l ll maintain the level of output at which he maximizes his profit.
Profit can be defined in terms of revenue and costs. Revenue is what the firm earns by selling goods or services in a given period such as a year. Costs are the expenses which are necessary for producing and selling goods or services during the period. Profit is the revenue from selling the output minus the costs of inputs used.
Costs should include opportunity costs of all resources used in production. Opportunity cost of a commodity is the amount an input can obtain in its best alternative use (best use elsewhere). In particular, costs include the owner's time and effort in running a business. Costs also include the opportunity cost of the financial capital used in the firm
Aiming to get higher profits, firms obtain each output level as cheaply as possible. Firms choose the optimal output level to receive the highest profits. This decision can be described in terms of marginal cost and marginal revenue.
Marginal cost is the increase in total cost when one additional unit of output is produced
Marginal revenue is the corresponding change in total revenue from selling one more unit of output.
As the individual firm has to be a price-taker1 , each firm's marginal revenue is the prevailing market price. Profits are the highest at the output level at which marginal cost is equal to marginal revenue, that is, to the market price of the output. If profits are negative at this output level, the firm should close down.
An increase in marginal cost reduces output. A rise in marginal revenue increases output. The optimal quantity also depends on the output prices as well as on the input costs. Of course, the optimal supply quantity is affected by such noneconomic factors as technology, environment, etc
Making economic forecasts, it is necessary to know the effect of a price change on the whole output rather than the supply of individual firms.
Market supply is defined in terms of the alternative quantities of a commodity all firms in a particular market offer as price varies and as all other factors are assumed constant.
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3.
Cindy liked parks. She took long walks in the nearby park almost every day. Her classmates, however, __didn't share__ her interest and Cindy usually walked alone. Cindy’s parents worried that she___had no friends. “I wish you __spent__ more time with your classmates. Don’t you feel bored in the park?” “It’s ok, Mum, I just feel much _better__ alone than with people who can’t understand me,” Cindy usually answered. “Parks are a lot more fun to spend time in than hanging out in a shopping centre.” And her mother didn’t know what to say. One day, Cindy returned from the park very excited. “Guess, who I met in the park!” she said, and she told her parents the whole story. “I _was walking__ along the central avenue when I saw a group of people. They _were_ students of the Biology faculty of the university. They told me__ about the plan to rearrange the park. A large lake is going to be made in the centre. There will be wild animals there like hares, squirrels and even _foxes_. Yesterday, the plan __was approved__ by the City Council and work starts tomorrow. I want to join the volunteer team!”
№4.
When I was at school, I spent two summers at my grandfather’s. They were the _best_ holidays I’ve ever had. Grandpa lived alone in a country cottage near a small river. Grandpa’s hobby was making birdhouses. He always said that he _needed_ a hobby to fill his free time. Grandpa’s workshop was full of all kinds of tools. There _was_ a big table, hammers, nails, paints, and what not. And all the tools _were kept_ carefully in their places. That was Grandpa’s number one rule. The __second__ rule was, “Never buy a new tool if the old one still works.” In the workshop, when he __was making __ the birdhouses, I asked him lots of questions about birds. He _knew_ a lot about them! He could tell one bird from another by their songs and footprints. I was surprised that Grandpa _didn't paint_ the birdhouses in bright colours. He explained to _me_ that birds prefer natural colours that make their houses more difficult to notice and, for that reason, safer.
Зачем эти цифры? Дайте ситуациях.
1835, 1856, 1842, 1850, 1861, 1857, 1865, 1858
Пример: 1835 - это год, когда он родился.
Shogan Валиханов родился в ноябре 1835 года.Он был казахский ученый,этнограф и историк.Shogan провел свое детство в отца с традиционной юрте.Отец отправил его в небольшой частной школы в 1842 году, когда ему было шесть.Он переехал в дом бабушки. Уалиханов поступил в Академию milltary в Омске в 1847 году. Он читал много книг в России. Он путешествовал в Центральной Азии в конце 1850-х годов.В 1856 году он поехал в район Issyg культуры, где он карга своей первой успешной экспедиции. В 1857 году он отправился в Россию, чтобы сообщить о результатах экспедиции и там он ecaame член Российской Ceographical общества. В июне 28,1858, Shogan Уалиханов начал свою вторую экспедицию. У него был караван из 43 человек,101 верблюдов и 65 лошадей. Караван прибыл в Kazakhgar в начале октября 1858 года. В своих путешествиях он собрал множество материалов о традициях и обычаях народа в тех местах, которые он посетил. Он вернулся в свой родной степной край, потому что он серьезно заболел весной 1861 года.Он умер в апреле 10,1865 в возрасте 29 лет.Его произведения по-прежнему популярны.