{"id":16403,"date":"2018-11-12T01:04:11","date_gmt":"2018-11-12T06:04:11","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/farhoud\/?p=16403"},"modified":"2018-11-12T01:04:11","modified_gmt":"2018-11-12T06:04:11","slug":"ap-economics-11-12-18","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2018\/11\/12\/ap-economics-11-12-18\/","title":{"rendered":"AP Economics &#8211; 11\/12\/18"},"content":{"rendered":"<p><b>I.\u00a0 Bellwork<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The market for gizmos is perfectly competitive and firms are earning short-run positive profits. <\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Draw correctly labeled side-by-side graphs of the market for gizmos and the profit-maximizing output of a typical gizmo producer.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Identify the market output as Qm and the market price as Pm.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Identify the firm\u2019s output as Qf and the firm\u2019s price as Pf.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">iii. Identify the area that corresponds to positive profit.<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Assume the market for gizmos is a constant cost industry. In the long run, how will the following change?<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The number of gizmo producers in the market.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The price of gizmos.<\/span><\/li>\n<\/ol>\n<p><b>II.\u00a0 Objectives:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Construct and Interpret graphs for perfectly competitive <\/span><span style=\"font-weight: 400;\">industries and firms demonstrating the long run and short run impact based upon changes in supply and demand <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Differentiate between \u00a0cost-constant, increasing cost, decreasing cost industry.<\/span><\/li>\n<\/ul>\n<p><b>III Discussion<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">PPT 3.6 Long Run Cost-constant, Increasing cost, and Decreasing cost industry.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">60.4 graphing practice<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Allocative efficiency = ( Price(marginal benefit)=MC)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Productive Efficiency = (Price (MR) = Minimum point of ATC) cost minimized<\/span><\/li>\n<\/ul>\n<p><b>IV.\u00a0 Homework<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Page 612 Check Your Understanding 1-2<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Page 612-613 Tackle the Test 1-6<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>I.\u00a0 Bellwork 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\u2019s output as Qf and the [&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-16403","post","type-post","status-publish","format-standard","hentry","category-ap-economics"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16403","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=16403"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16403\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=16403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=16403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=16403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}