Nov 05

AP Economics – 11/06/19

I.  Bellwork 

A. The market for gizmos is perfectly competitive and firms are earning short-run positive profits.

  1. Draw correctly labeled side-by-side graphs of the market for gizmos and the profit-maximizing output of a typical gizmo producer.
  2. Identify the market output as Qm and the market price as Pm.
  3. Identify the firm’s output as Qf and the firm’s price as Pf.
  4. Identify the area that corresponds to positive profit.

B.  Assume the market for gizmos is a constant cost industry. In the long run, how will the following change?

  1. The number of gizmo producers in the market.
  2. The price of gizmos.

II.  Objectives:

  • Construct and Interpret graphs for perfectly competitive industries and firms demonstrating the long run and short run impact based upon changes in supply and demand
  • Differentiate between  cost-constant, increasing cost, decreasing cost industry.

III Turn in Your Homework

IV.  Discussion

  • PPT 3.6 Long Run Cost-constant, Increasing cost, and Decreasing cost industry.
  • Allocative efficiency = ( Price(marginal benefit)=MC)
  • Productive Efficiency = (Price (MR) = Minimum point of ATC) cost minimized

V.  Classwork

  • Page 612 Check Your Understanding 1-2
  • Page 612-613 Tackle the Test 1-6

VI. Homework

Perfect Competition on AP Classroom

Nov 05

Accounting – 11/06/19

I Bellwork:

II Objectives:

  • Complete record keeping for a dishonored check.
  • Journalize an electronic funds transfer.
  • Journalize a debit card transaction
  • Using the textbook and discussion, compare debit cards and credit cards, noting similarities and differences in a bubble Map.

III.  Discussion/Notebook

Debit Cards vs Credit Cards

See iLearn PPT 5-3

IV Classwork – on Mindtap

  • Work Together & On Your Own (p. 139).
  • Aplia: Application Problem 5-3
Nov 05

Economics – 11/06/19

I. Bellwork

If the quantity supply and quantity demand for squash is at equilibrium, then a drought occurs  damaging the squash crop:

Question & Answer

  1. What will happen to supply?
  2. What will happen to the price of squash?
  3. What will happen to the quantity of squash?

II  Objective

  • Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, demand, equilibrium, surpluses, and shortages.
  • Integrate and evaluate information presented in order to determine the impact on equilibrium price and quantity

III. Discussion

A.  Shifting  Demand and Supply

Shifting Demand and Supply- Macro Topic 1.6 (Micro Topic 2.7)

Double Shifts- Supply and Demand

BW 1-24-11

From a starting point of D & S

  1. What is the current equilibrium price? Where S & D intersect.
  2. What is the new price if demand remains constant and supply increases to S2?
  3. What would be the new price if demand decreases to D1 and Supply increases to S2?
  4. What would be the price if demand remains constant D and Supply increases to S1?
  5. What could cause an increase in the supply of gold?

IV. Classwork: