Oct 25

AP Economics -10/25/19

I. Bellwork

Page 581 Check Your Understanding & Tackle the Test 1-5

II. Objectives:

Construct, analyze and interpret economic models relating to MC, ATC, and MR to determine profit maximization and industry entry and exit by firms
Explain and calculate using data from a graph or table various measures of productivity and short/long run costs.
Define (using graphs where appropriate) key terms and concepts relating to production, marginal analysis, and profit maximization.

III. Classwork

IV. Exam Monday -Section 10 (Module 52-57)

Oct 25

Economics – 10/26/19

I. Bellwork: Q&A

A. Provide an example of 3 fixed costs a business may have.

B. Provide an example of 3 variable costs a business may have

C. Explain the difference between fixed and variable costs..

II. Objectives

Construct and analyze the production function and to determine profit maximizing level of output.
Determine the meaning and functions of words and phrases used to make economic decisions
Compute variable, fixed, total costs, and total profit

II. Discussion

III. Classwork

IV. Homework on Google Classroom – Complete Schedule