Oct 07

# Economics – 10/08/19

II.  Objectives:

• Apply the total revenue test to determine demand elasticity
• Utilize the determinants of elasticity to form a judgement on the elasticity of an item
• Create a claim, evidence, and reasoning  on elasticity based upon information provided in an article

III.  Discussion

A.  Total Revenue Test – Brace Map in Notebook

1.  Fareed sells falafel sandwiches. He charges \$4.00 a sandwich and usually sells 100 a day. He recently decided to increase the price of a sandwich to \$4.80 and is currently selling 75 sandwiches a day. Use the total revenue test to determine if his falafel sandwiches are elastic or inelastic. Show your work.

B.   Determinants of Elasticity (List) See Figure 4.6

1. –Can the purchase be delayed?
3. –Does the purchase use a large portion of income?

IV.  Classwork:    Page 109 Q&A 5-8

V.  Chapter 4 Elasticity Quiz on iLearn

VI. Chapter-4-Review

Oct 07

# Accounting – 10/08/19

I.  Bellwork

A.  For each of the source documents listed provide the proper abbreviation.

1. Sales Invoice
2. Check
3. receipt
4. memorandum
5. calculator tape

B.  Explain how errors on a general journal corrected

II.  Objectives

• Analyze, interpret, and record various transactions using a general journal.
• Interpret and analyze financial transactions following a multi-step procedure based on examples outlined in the text.

III.  Classwork

• 3-M  Mastery problem page 85-86
Oct 07

# AP Economics – 10/07/19

I.  Bellwork – Show your Work

A. For the graph determine:

1. Cs before the tax
2. Cs after the tax
3. Ps before the tax
4. Ps after the tax
5. Total Surplus after the tax
6. Total tax revenue
7. Bonus – Calculate Deadweight loss

II Objectives:

• Graph and Calculate the change in consumer surplus, producer surplus, resulting from excise taxes
• Graph and calculate the deadweight loss and revenue from taxes resulting from an excise tax
• Determine the impact of an excise tax on consumer and producer surplus as well as discuss the incidence of a tax.

III.   Classwork:  Classwork Pages 512 – 513