I.  Bellwork:  Pgs 729-731 A,  MC 1-12 B.  Free Response #1 III.  Objectives Explain how the factor markets determine the factor distribution of income Explain how the demand for the factors of production leads to the marginal productivity theory of income distribution Determine the equilibrium wage and level of employment in the labor market for […]

I.  Bellwork A.  Pages 726-727 Tackle the Test MC 1-5 Free Response Question  #2 II.  Objectives Explain how the factor markets determine the factor distribution of income Explain how the demand for the factors of production leads to the marginal productivity theory of income distribution Determine the equilibrium wage and level of employment in the labor […]

I.  Bellwork Is Slow Wage Growth a Sign of Monopsony Power? -Explain why some economists believe that slow wage growth indicates widespread monopsony power by employers? -What other factors could be the cause of slow wage growth? -If the slow wage growth is a result of monopsony power, is there a role for the government […]

I.  Bellwork Pg 714 FRQ #2 a & b II.  Objectives Analyze and construct supply graphs for labor for firm and perfectly competitive and imperfectly competitive (monopsony)labor markets Determine the point where workers will continued to be hired for perfectly competitive and imperfectly  (monopsony) competitive labor markets III.  Discussion 5.3 Monopsony  Unions PPT https://www.youtube.com/watch?v=5bFS2WyAo8s https://www.youtube.com/watch?v=Apng99ArphY […]

I.  Bellwork Page 709 –  The Decline of the Summer Job What are the three reasons provided for the decline of high school and college students in summer jobs? Do you agree with the article? Collaborate with others to find another reason why fewer students are applying for summer jobs.. II.  Objectives Distinguish between perfectly […]

I.  Bellwork Page 704 MC 1-5 Pg 704 FRQ #2 II.  Objectives: Describe how a worker’s decision about time preference gives rise to labor supply Determine the equilibrium wage and level of employment in the labor market III.Discussion The Supply of Labor A.  Work versus Leisure – B.  Wages and Labor Supply Substitution Effect vs. […]

I.  Bellwork Page 697 MC Questions 1-5 Letter and Answer Page 698 FRQ #2 a-c II.  Objectives: Determine supply and demand in the markets for land and capital Find the equilibrium in the land and capital markets Explain how the demand for factors leads to the marginal productivity theory of income distribution III.  Module 70 […]

I.  Bellwork A.  Check Your Understanding 1 & 2 a & b p.697 II.  Objectives: Complete a production schedule and graph a production function determining marginal product and identifying the various stages of production Create and interpret economic models based upon production data in order to form decisions. III.  Classwork 5.1- MRP, MRC, and Hiring […]

I.  Bellwork List the four factors of production and provide an example for each II.  Objectives Describe features that make markets for factors of production—resources like land, labor, and capital—different from goods markets Explain how factor markets determine the factor distribution of income Discuss how the demand for a factor of production is determined III. […]

I.  Objectives Analyze and interpret graphs for short run and the long run for firms operating in markets characterized as being an oligopoly or monopolistic competition. Determine the quantity, prices, profits and firm responses in the short run and the long run Explain the role and methods used to promote differentiation in monopolistic competition II. Exam […]