Oct 10

Economics – 10/11/19

I. Bellwork

A hot dog vendor sold hot dogs for 2.00 and the quantity sold was 60.  The vendor decided to raise the price to 2.50 and sold 40 hot dogs. 

A.  Using the total revenue test determine elasticity.  (SHOW YOUR WORK)

B.  Using the price elasticity of demand formula determine elasticity. (SHOW YOUR WORK)

II. Objectives

  • Apply tests to determine elasticity based upon information provided
  • Review concepts and principles relating to demand, quantity demand, and elasticity of demand to address questions

III.  Classwork –

A. Review Sheet –

  • Go over quizzes
  • Review Sheet

IV.  Chapter 4 Test on Monday – No notes

V.  Things to Review:

A.  Demand Curve Flash Cards

B.  Your iLearn Quizzes  (I will open them from you to review on Friday)

C:  Kahoot Review

D.  Your Notes:

IV.   Chapter-4-Review– Extra credit due Monday (must be complete)

Oct 10

AP Economics -10/10/19

I.  Bellwork

A.  Briefly summarize the article below using CER (claim, evidence and reasoning) 3pts

B.  Explain the tariff’s impact on consumer surplus and producer surplus. 2pts

C.  Explain how dead weight loss is involved. 1 pt

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:  

  • Worksheet 2.9 on iLearn 

IV. Due Yesterday

Page 528-531  MC 1-17 & FRQ #1

V.  Homework

  • Test corrections – see sheet on the blog