Economics – 3/21/11
I. Bellwork Q&A
- Why is the use of the production function important in business?
- Explain what is occurring to marginal product during each of the stages (1-3) of the production function.
II. Objective
- Examine how changes in labor affect output. – Theory of Production
III. Classwork
A. Production Schedule Graphing (1st example stays in notebook)
Copy of Production-Schedules-5-2
B. Reading Check Q&A Pages 129 & 130
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