AP Economics – 10/17/19
I. Bellwork
Page 562 Check Understand 1a – Show formulas and work
II. Objectives
- Describe the various types of cost a firm faces: variable, fixed, and total costs
- Explain how a firm’s costs generate marginal cost curves and average cost curves
- Interpret and explain graphic models representing costs
III. Discussion: Firm Cost Module 55 – pgs 552-562
A. Videos:
- Costs of Production- Microeconomics 3.3 (Part 1)
- Cost Curves- Microeconomics 3.3 (Part 2)
- Short-Run Cost Curves (Part 3)- Micro Topic 3.2
IV. Classork
- 3.2 Cost of Production Practice on iLearn
- Page 562 MC 1-5 & FRQ #2
Leave a Reply