AP Economics – 10/23/18
I. Bellwork
- Page 562 Tackle the Test 1-5 write Answers
II Objectives
- Explain why a firm’s cost may differ between the short run and long run
- Describe how a firm can enjoy economies of scale
- Interpret and explain graphic models representing costs in the long run
III. Discussion Module 56 Long Run Costs & economies of Scale Pgs . 564-569
- Short run & Long Run
- Long Run Total Cost Curve
- Returns to Scale and Economies to scale
- “Micro Unit 3– Economies of Scale”
- Sunk Costs
IV, Classwork
- 3.3 Economics of Scale Practice
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