Economics – 3/22/12
I. Bellwork
A Identify what happens to Total Product and Marginal Product at each stage (1-3) of the production function. Ex:
Total Product Marginal Product
Stage 1 ——————– ——————
Stage 2 ——————– ———————
Stage 3 ——————– ———————
II. Objectives
- Examine how changes in labor affect output. – Theory of Production
- Construct a production function and identify the stages of production
III. Notebook Work
A. Production Schedule Graphing (1st example stays in notebook)-Finish it
IV. Classwork
A. Production Function Practice
B. Page 130 2-6 Q&A
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