Economics – 10/28/13
I. Bellwork
A Identify what happens (increase/decrease) to Total Product and Marginal Product at each stage (1-3) of the production function
Total Product Marginal Product
Stage 1 ——————– ——————
Stage 2 ——————– ———————
Stage 3 ——————– ———————
II. Objective
- Determine how businesses analyze their costs and revenues to maximize profits.
- Determine the meaning of words and phrases as they are used in a text.
III. Production Function Review & Quiz
IV. Discussion Pgs 132-137 and Notebook work:
- Process Map – Stages of the Production Function
- Variable Costs
- Brace Map – Costs – Fixed and Variable
V. Classwork:
- P. 132 Vocabulary (13)
- P. 137 Q&A 2-5
Leave a Reply