Economics – 10/18/19
I. Bellwork: Look at Figure 5.4 on Page 124.
A. Describe how the appearance of the 3 supply curves differ.
B. Explain how their appearance relates to elasticity.
II. Objective
- Identify how changes in labor result in changes in output. – Theory of Production
- Construct a production function and analyze and explain the information it provides
- Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence
III. Formative Homework: 5.1 iLearn Supply Ends Sunday @ 11:30 pm
IV. Notebook work – Page 128
- Production Schedule & Function
- Process Map – Stages of the Production Function
V. Classwork
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