Economics – 10/18/19

I. Bellwork: Look at Figure 5.4 on Page 124.

A. Describe how the appearance of the 3 supply curves differ.

B. Explain how their appearance relates to elasticity.

II.  Objective

  • Identify how changes in labor result in changes in output. – Theory of Production
  • Construct a production function and analyze and explain the information it provides
  • Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence

III.  Formative Homework:  5.1 iLearn Supply Ends Sunday @ 11:30 pm

IV.   Notebook work – Page 128

  • Production Schedule & Function
  • Process Map – Stages of the Production Function

V.   Classwork

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