AP Economics – 10/15/18
I. Bellwork
Explain why producers often need to offer discounts in order to get consumers to buy additional units.
II Objectives:
- Explain how the principle of diminishing marginal utility applies to the consumption of most goods and services
- Analyze and interpret economic modules in order to determine optimal solutions
- Construct economic models and calculate marginal utility and marginal utility by dollar
- Utilize marginal analysis to find the optimal consumption bundle
III. Utility Maximization pgs. 514-523
Discussion: iLearn Chp 2 PPT Folder 2.7
- Principle of Diminishing Marginal Utility
- Optimal Consumption Bundle
- Calculating Marginal Utility & Marginal Utility per Dollar
- Optimal Consumption
IV. Classwork
On iLearn:: 2.11 & 51.2
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