AP Economics – 10/31/19
I. Bellwork
- Page 601 #1 a,b & c
II. Objectives
Interpret short run graphs, analyzing MC, MR, ATC, and AVC to:
- Determine a perfectly competitive firm’s profit or loss
- Explain how a firm decides whether to produce or shut-down in the short-run
III. Turn in Homework
IV. Classwork
A. Review Shut down information:
- P>AVC continue producing
- P<AVC shut-down /stop producing (short run)
- P<ATC shut-down (long run)
B. Page 601 #1-5
V. Quiz on iLearn
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