AP Economics – 9/23/19
I. Bellwork:
Equilibrium Chg Practice – AP Classroom
II. Objectives
- Describe how quantity controls create problems and can make a market inefficient
- Explain who benefits and who loses from quantity controls
- Interpret and communicate the impact of quotas through analysis and construction of economic models.
III. Turn in Homework
IV. Discussion: ILearn PPT Module 9 Section 2
A. Quantity Controls Pgs 92-97
- Supply Price & Demand Price
- Quotas and surplus
- Wedge
- Quota Rent
- Dead weight Loss
V. Classwork: Page 97-98
- Check Your Understanding `1-2
- MC 1-5
- FRQ #2
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