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I. Read and translate the text. IX. Write down sentences with the following idioms




IX. Write down sentences with the following idioms.

VIII. Write down the forms of the irregular verbs.

VI. Put each word in brackets in appropriate degrees of comparison.

1. He is the (good) specialist in the company.

2. The problem is (important) than we thought.

3. Which is the (simple) way of solving the problem?

4. England is (small) than France.

5. This is the (bad) machine on the world market at this price.

6. This model is (expensive) than that one.

7. Monday is the (busy) day of the week.

8. He has become one of the (successful) directors.

9.Your car’s (new) than mine.

 

VII. Fill in the gaps with “who, whom, whose, what, which”.

1. … is your telephone number?

2. … is he? He is an engineer.

3. … is signing the contract?

4. … car is that?

5. … are these people?

6. … is that book?

7. The street … leads to the station is very wide.

8. The man … you want to see has just left.

9. The young man… you met at my office is a business manager.

10. … of you left the documents on the table?

 

To speak, to leave, to steal, to run, to read, to find, to forget, to dig, to come.

 

1.The game is worth the candle -Игра стоит свеч

2. Split the difference - Идти на компромисс

 

UNIT 3

 

COSTS

 

Why do firms care about costs? Clearly they must pay careful attention to costs because the total amount of cost reduces the firm’s profits. But costs are important in economics for a deeper reason: firms will decide how much of a good to produce and sell depending on the price and cost of the good. More precisely, supply depends upon incremental or marginal cost. And the dependence of supply decisions on cost is true not only for perfect competitors but also for firms in the vast field of imperfect competition.

Whatever the market structure, whether perfectly or imperfectly competitive, marginal cost is a key concept for understanding a firm’s behaviour.

The major elements of a firm’s costs are its fixed costs (that do not vary at all when output changes) and variable costs (that increase as output increases). Total costs are equal to fixed plus variable costs: TC=FC+VC.

“Total cost” represents the total expense needed to produce each level of output.

“Fixed cost” represents the total expense that is paid out even when no output is produced; fixed cost is unaffected by any variation in the quantity of output.

“Variable cost” represents expenses that vary with the level of output – including raw materials, wages, and fuel-and includes all costs that are not fixed.



Monopoly

A firm is called a “monopolist”, from the Greek words mono for “one” and polist for “seller”. This firm is the only one producing in its industry, and there is no industry producing a close substitute for its good.

Exclusive monopolies are rare today. Only in the case of franchised local services – local telephone, gas, water, and electricity being the major examples- is there truly a single seller of a service with no close substitutes. But even those isolated examples must reckon with competition from other industries – with cellular telephones for cable phones, with other fuels from electricity or gas. No firm is completely secure from attack by competitors in the long run.

 





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