AP Economics – 10/02/19
I. Bellwork
Page 497 Tackle the Test #2
II. Objectives:
- Calculate total consumer and producer surplus by applying the triangle area formula.
- Explain and demonstrate the impact of price ceiling and price floors and consumer and producer surpluses
- Construct economic models to represent consumer and producer surplus
III. Discussion/Notebook
- Formula for Calculating consumer and producer surplus with examples
- Copy Graph & Formula for Both
IV. Classwork
- Pages 496-497 (1-2) & (1-5)
V. Homework
- 2.6 Consumer and Producer Surplus
- Price Ceiling and Price Floors
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