Economics – 3/26/15

I.  Bellwork

A Copy the table and complete the Marginal Product & Stage of Production Columns (No graph – just the table)

Number of Workers Total Product Marginal Product Stage of Production
0 0
1 4
2 12
3 22
4 34
5 38
6 40
7 36
8 30

II.  Objective

  • Complete a production schedule and graph a production function determining marginal product and identifying the various stages of production
  • Determine how businesses analyze their costs and revenues to maximize profits.
  • Determine the meaning of words and phrases as they are used in a text.

III. 5.1  iLearn Quiz Today Through Saturday midnight

IV,  Notebook work and discussion: 

  • Variable Costs – Map
  • Construct a Brace Map – Costs – Fixed and Variable – with examples

V.  Classwork: 

  • P. 132 Vocabulary (13)
  • P. 137 Q&A 2-5


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