Oct 22

Accounting – 10/23/19

I.   Bellwork

  • Page 113 Q&A 1-4

II Objectives

  • analyze and interpret financial transactions recording them in a general journal and maintain ledger balances
  • apply multi-step procedures based on explanations in the text to record and post financial transactions.

III.   Classwork:  

  • 4M Mastery Problem p. 117 on MindTap

IV.   Ledger Balance Quiz

V.  Chapter 4 Test Friday

Oct 22

AP Economics – 10/23/19

I.  Bellwork

  • Page 538 Free Response #2 a-d (show your work)

II.  Objectives

  • Perform Marginal Analysis
  • Determine the profit maximizing level of output using the optimal output rule
  • Analyze, interpret and construct economic models to solve problems and make decisions

III.  Discussion:  Profit Maximization pgs. 539-542

  • Total Revenue = P x Q
  • Profit = TR – TC
  • Marginal Revenue = Chg in Total Revenue/Chg Quantity
  • Marginal Cost= Chg in Total Cost /Chg Quantity
  • Profit Maximizing Quantity of Output  occurs when MC = MR

Maximizing Profit Practice- Micro Topic 3.5

Maximizing Profit Under Competition

2006 FR #2 on iLearn

IV.  Classwork

Micro Unit 3, Question 9 – Maximizing Profit

53.1 WorksheetFile on iLearn

  • Page 543 Check Your Understanding 1-2
  • Page 544 Free Response #2
Oct 22

Economics – 10/23/19

I.  Bellwork – Explain what occurs to total product and marginal product at each stage. – Copy the table 

 TOTAL PRODUCTMARGINAL PRODUCT
STAGE 1

STAGE 2

STAGE 3

II.  Objective:

  • Construct a production function and identify the stages of production
  • Create and interpret economic models based upon production data in order to form decisions.
  • Using production function data from the classroom activity explain how and why marginal product changes when additional units of labor are added

III. Production Function Demonstration Activity

IV.  Classwork: 

  • Page 130 Q&A 2-5

V.  Production function quiz