I.  Bellwork:  Graph for a Natural Monopoly Page 629 #2 II. Objectives Explain the meaning of Price Discrimination Discuss why price discrimination is common when producers have market power III.  Price Discrimination Read  pages 630-635 https://youtu.be/1kSk1Hu3TVM https://youtu.be/vihuK8JoK14?t=690 Figure 63.2 Price Discrimination P634 Micro 4.8 Price Discriminating Monopoly (First Degree) Second Degree Price Discrimination Perfect Price […]

I.  Bellwork:  on iLearn II.  Objectives: Discuss monopoly inefficiencies Construct, analyze, and interpret graphs for monopolies to determine the consumer surplus, producer surplus,and deadweight loss resulting from inefficiency III.  Discussion:   Review Pages 628-629 Homework IV.  Notebook:   A.  Monopolies are inefficient because they… Charge a higher price Don’t produce enough Not allocatively efficiency Produce at higher […]

I.  Bellwork Different Customers, Different Prices, Thanks To Big Data Summarize how this article relates to price differentiation and explain the methods employed.  Explain the type of customer that is targeted. II.  Objectives Explain the effects of monopoly and perfect competition on society’s welfare Construct, analyze, and interpret graphs for monopolies to determine the profit […]

I.  Bellwork: on iLearn Module 61 Folder   61.1 –Monopoly Demand and MR II.  Objectives: Identify the profit maximizing price and quantity for a monopoly Determine whether a monopoly is making a profit or loss Construct, analyze, and interpret economic models for a monopoly III.  Discussion Demand Curve for a Monopoly Figure 61.1 MR < […]

I.  Bellwork  A. The market for gizmos is perfectly competitive and firms are earning short-run positive profits. Draw correctly labeled side-by-side graphs of the market for gizmos and the profit-maximizing output of a typical gizmo producer. Identify the market output as Qm and the market price as Pm. Identify the firm’s output as Qf and […]

I. Bellwork: Summarize the article.  Explain what Grubhub is doing, how it is impacting profits, its competitors, and the market.https://seekingalpha.com/article/4301773-grubhub-end-begins II.  Objectives: Explain why industry behavior differs in the short run and long run Analyze, construct interpret, and communicative  changes in the long run and their impact on profit and loss Distinguish between the short-run […]

I. Bellwork Page 602 #2 a-e 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 Distinguish between the short-run and long-run supply curve III.   Discussion Short run Supply curve – […]

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   […]

I. Bellwork: on Google classroom II.  Objectives: Evaluate a perfectly competitive firm’s situation using a graph 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.  Discussion:  “Micro 3.8 Perfect Competition in the Short Run A.  Perfectly competitive firms take the market price […]

I.  Bellwork:  https://www.youtube.com/watch?v=ZUFJJqO-ZMI How is the price of a product set for a perfectly competitive firm? How would you describe the demand curve for a perfectly competitive market? Is it inelastic, elastic, perfectly inelastic or perfectly elastic? Why is the price of a product in this market structure set the way it is? What causes […]