AP Economics – 11/30/18
I. Bellwork: Page 666
Tackle the Test FRQ2 a-c
II. Objectives
Determine the prices and profits in both in the short run and the long run
Explain how monopolistic competition can lead to inefficiency and excess capacity
Construct and interpret graphs for short run and the long run monopolistic competition.
III. Notebook
A. List – Characteristics of monopolistic competition
Page 668 Figure 67.1 Copy and label the short run graphs
C. Discuss Long Run
- https://www.youtube.com/watch?v=T3F1Vt3IyNc
- Demand and MR shifts page 670 figure 67.2
- Page 671 figure 67.3 Copy and label the long run graph
IV. Classwork on iLearn
4.5 Monopolistic Competition
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