Oct 30

AP Economics – 10/31/19

I.  Bellwork

  • Page 601 #1 a,b & c

II.  Objectives

Interpret short run graphs, analyzing MC, MR, ATC, and AVC to:

  • Determine a perfectly competitive firm’s profit or loss
  • Explain how a firm decides whether to produce or shut-down in the short-run

III.  Turn in Homework

IV.  Classwork

A.  Review Shut down information:

  • P>AVC         continue producing
  • P<AVC          shut-down  /stop producing (short run)
  • P<ATC         shut-down (long run)

B.  Page 601 #1-5

V.  Quiz on iLearn

Oct 30

Accounting – 10/31/19

I.  Bellwork: When A Check You Wrote (Or Received) Bounces

A.  Questions & Answers

  1. What are two fees associated with writing bad checks?
  2. What does NSF stand for?
  3. What are 4 things you can do if you write a bad check?
  4. What is  Michigan’s returned check fee?

II.  Objectives:

  • Record a deposit on a check stub.
  • Endorse checks using blank, special, and restrictive endorsements.
  • Prepare a check stub and a check.

III.  DiscussionNotebook

  • Types of Endorsements
  • Completing a Check
  • Review Steps in Completing a Check Stub

IV.   Classwork

  • Working Together & On Your Own (p. 128).
  • Application Problem 5-1 (pg. 149).
Oct 30

Economics – 10/31/19

I.  Bellwork

Is Uber’s Surge-Pricing an Example of High-Tech Gouging?

  • 3-2-1 Strategy- After reading the article, write and complete the following statements: (Must use 5 or more words)
    • Three things I discovered/learned:
    • Two things I found interesting:
    • One question I have about this topic:

II Objective

  • Analyze how prices send signals and provide incentives to buyers and sellers in a competitive market.
  • Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence

III.    Discussion:

IV.   Videos –  Rationing

V.   Notebook Work–

  • Section 6-1 Notes from iLearn
    • Brace Map – Advantages of Prices & Problems with Rationing

VI.  Classwork

  • Page 143  Vocabulary (6)
  • Page 146 Q&A 2-7
Oct 30

AP Economics – 10/30/19

I. Bellwork: on Google classroom

II.  Objectives:

  • Evaluate a perfectly competitive firm’s situation using a graph
  • Determine a perfectly competitive firm’s profit or loss
  • Explain how a firm decides whether to produce or shut-down in the short-run

III.  Discussion:  “Micro 3.8 Perfect Competition in the Short Run

A.  Perfectly competitive firms take the market price – graph

B.  Review:

1.  Profit maximization Quantity of Output – Graph p.590

2.  Minimum Average Total Cost – Graph p591

  • ATC is at its lowest point & intersects MC
  • P=ATC (Break-even point)

C.  Short-Run Production Shut down Rule

  1.  Fixed Costs – do not change with production (exist even if you don’t produce)
  2.  Variable costs – increase with production (stop if you shut down)
  3.  Shut-Down Rule

P>AVC         continue producing

P<AVC          shut-down  /stop producing (short run)

P<ATC         shut-down (long run)

IV.  Classwork on iLearn

  • 59.1-59.2 & Exit 59

V.  Quiz on Tomorrow on Sections 58 & 59