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

  • AP Classroom Problems – together in class
  • Homework – iLearn Review

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