AP Economics – 11/13/19

I.  Bellwork:  on iLearn

II.  Objectives:

Discuss monopoly inefficiencies

Construct, analyze, and interpret graphs for monopolies to determine the consumer surplus, producer surplus,and deadweight loss resulting from inefficiency

III.  Discussion:  

  • Review Pages 628-629
  • Homework

IV.  Notebook:  

A.  Monopolies are inefficient because they…

  1. Charge a higher price
  2. Don’t produce enough
    • Not allocatively efficiency
  3. Produce at higher costs
    • Not productively efficiency

B.  Figure 62.1 page 624

C.  Dealing with Monopolies

V.  Classwork:

Worksheet 4.2 in Module 62 Folder on iLearn

Page 628 Check Your Understanding #1-2

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.