AP Economics – 10/16/18

I. Bellwork

II. Objectives:

Determine and explain consumer and producer surplus and their relationship to the demand and supply curves.
Interpret and construct graphs based upon information provided to determine consumer and producer surpluses
Graph and calculate the deadweight loss and revenue from taxes resulting from an excise tax, price ceiling, quota, or price floor.
Construct economic models and calculate marginal utility and utilize marginal analysis to determine the optimal consumption bundle

III. Discussion