{"id":16369,"date":"2018-11-05T00:16:10","date_gmt":"2018-11-05T05:16:10","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/farhoud\/?p=16369"},"modified":"2018-11-05T01:00:44","modified_gmt":"2018-11-05T06:00:44","slug":"ap-economics-11-05-18","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2018\/11\/05\/ap-economics-11-05-18\/","title":{"rendered":"AP Economics- 11\/05\/18"},"content":{"rendered":"<p><strong>I.\u00a0 Bellwork<\/strong><\/p>\n<ul>\n<li>Page 593 Tackle the Test #2<\/li>\n<\/ul>\n<p><strong>II.\u00a0 Objectives:<\/strong><\/p>\n<ul>\n<li>Evaluate a perfectly competitive firm&#8217;s situation using a graph<\/li>\n<li>Determine a perfectly competitive firm&#8217;s profit or loss<\/li>\n<li>Explain how a firm decides whether to produce or shut-down in the short-run<\/li>\n<\/ul>\n<p>III.\u00a0 Discussion:\u00a0 \u201c<a href=\"https:\/\/www.youtube.com\/watch?v=Z9e_7j9WzA0\">Micro 3.8 Perfect Competition in the Short Run<\/a><\/p>\n<div id=\"info\" class=\"style-scope ytd-video-primary-info-renderer\">A.\u00a0 Perfectly competitive firms take the market price &#8211; graph<\/div>\n<div>B.\u00a0 Review:<\/div>\n<div>1.\u00a0 Profit maximization Quantity of Output &#8211; Graph p.590<\/div>\n<div>2.\u00a0 Minimum Average Total Cost &#8211; Graph p591<\/div>\n<ul>\n<li>ATC is at its lowest point &amp; intersects MC<\/li>\n<li>P=ATC\u00a0\u00a0\u00a0 (Break-even point)<\/li>\n<\/ul>\n<p>C.\u00a0 Short-Run Production Shut down Rule<\/p>\n<ol>\n<li>\u00a0Fixed Costs &#8211; do not change with production (exist even if you don&#8217;t produce)<\/li>\n<li>\u00a0Variable costs &#8211; increase with production (stop if you shut down)<\/li>\n<li>\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=VFY2aJwpdNM\">Shut-Down Rule<\/a><\/li>\n<\/ol>\n<p>P&gt;AVC\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 continue producing<\/p>\n<p>P&lt;AVC\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 shut-down\u00a0 \/stop producing (short run)<\/p>\n<p>P&lt;ATC\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 shut-down (long run)<\/p>\n<p><strong>IV.\u00a0 Classwork on iLearn<\/strong><\/p>\n<ul>\n<li>59.1-59.2 &amp; Exit 59<\/li>\n<\/ul>\n<div><strong>V.\u00a0 Quiz on Wednesday Section 58 &amp; 59<\/strong><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I.\u00a0 Bellwork Page 593 Tackle the Test #2 II.\u00a0 Objectives: Evaluate a perfectly competitive firm&#8217;s situation using a graph Determine a perfectly competitive firm&#8217;s profit or loss Explain how a firm decides whether to produce or shut-down in the short-run III.\u00a0 Discussion:\u00a0 \u201cMicro 3.8 Perfect Competition in the Short Run A.\u00a0 Perfectly competitive firms take [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":["post-16369","post","type-post","status-publish","format-standard","hentry","category-ap-economics"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/comments?post=16369"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16369\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=16369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=16369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=16369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}