Economics – 10/29/18
I. Bellwork: Figure 5.6 Page 134 Questions & Answers
- At what number of products is the break-even point in on the table achieved? Estimate a range.
- At what number of workers is the profit-maximizing level of output achieved on the table and explain why this choice is correct.
- Explain the advantages e-commerce stores have over traditional stores? (Page 135)
II. Objective
- Construct and analyze the production function and other decision making models which are used to make business decisions.
- Determine the meaning and functions of words and phrases;
- Create a hypothetical business and differentiate between variable and fixed costs incurred in the operation of the business.
III. Classwork
IV. Chapter 5 Test Wednesday
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