Economics – 5/19/17
I. Bellwork
For each stage below explain how Total Product and Marginal Product are impacted.
Total Product Marginal Product
Stage 1
Stage 2
Stage 3
II. Objective
- Complete a production schedule and graph a production function determining marginal product and identifying the various stages of production
- Determine how businesses analyze their costs and revenues to maximize profits.
- Determine the meaning of words and phrases as they are used in a text.
III. Senior Final Review on iLearn (skip Chapter 6 material)
IV. Notebook work and discussion:
- Video: Variable Costs
- Construct a Brace Map – Costs – Fixed and Variable – with examples for each – Fixed and Variable
V. Classwork: (Due today)
- P. 132 Vocabulary (13)
- P. 137 Q&A 2-5
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