I Bellwork Supreme Court Rejects Rent Control Challenge
- Explain the reasoning used by those against rent control.
- Explain the reasoning used by those supporting rent control.
- What factors did the Supreme Court take into consideration and what was the basis for their decision? Do you agree? Explain.
- Analyze and provide examples of how price controls are practiced and their impact.
- Identify the impact resulting from changes in Demand and Supply on equilibrium Price and Quantity
- Integrate and evaluate various graphic models in order to address a question or solve a problem.
III. Review & Discuss Chapter 6 Concepts
IV. Chapter 6 Test Tomorrow
I. Bellwork: on iLearn
Discuss monopoly inefficiencies
Construct, analyze, and interpret graphs for monopolies to determine the consumer surplus, producer surplus,and deadweight loss resulting from inefficiency
- Review Pages 628-629
A. Monopolies are inefficient because they…
- Charge a higher price
- Don’t produce enough
- Not allocatively efficiency
- Produce at higher costs
- Not productively efficiency
B. Figure 62.1 page 624
C. Dealing with Monopolies
Worksheet 4.2 in Module 62 Folder on iLearn
Page 628 Check Your Understanding #1-2
- Apply accounting terminology and practices/procedures used in cash controls on the exam
- Interpret and analyze financial information to record journal entries, establish and replenish petty cash, and prepare a bank reconciliation.
II. Chapter 5 Test
Multiple Choice on iLearn