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


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