{"id":17912,"date":"2019-10-30T00:06:10","date_gmt":"2019-10-30T04:06:10","guid":{"rendered":"https:\/\/iblog.dearbornschools.org\/farhoud\/?p=17912"},"modified":"2019-10-30T01:31:19","modified_gmt":"2019-10-30T05:31:19","slug":"ap-economics-10-30-19","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2019\/10\/30\/ap-economics-10-30-19\/","title":{"rendered":"AP Economics &#8211; 10\/30\/19"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>I.  Bellwork: on Google classroom<\/p>\n\n\n\n<p>II.&nbsp; Objectives:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Evaluate a perfectly competitive firm\u2019s situation using a graph<\/li><li>Determine a perfectly competitive firm\u2019s profit or loss<\/li><li>Explain how a firm decides whether to produce or shut-down in the short-run<\/li><\/ul>\n\n\n\n<p>III.&nbsp; Discussion:&nbsp; \u201c<a href=\"https:\/\/www.youtube.com\/watch?v=Z9e_7j9WzA0\">Micro 3.8 Perfect Competition in the Short Run<\/a><\/p>\n\n\n\n<p>A.&nbsp; Perfectly competitive firms take the market price \u2013 graph<\/p>\n\n\n\n<p>B.&nbsp; Review:<\/p>\n\n\n\n<p>1.&nbsp; Profit maximization Quantity of Output \u2013 Graph p.590<\/p>\n\n\n\n<p>2.&nbsp; Minimum Average Total Cost \u2013 Graph p591<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>ATC is at its lowest point &amp; intersects MC<\/li><li>P=ATC\t(Break-even point)<\/li><\/ul>\n\n\n\n<p>C.&nbsp; Short-Run Production Shut down Rule<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>&nbsp;Fixed Costs \u2013 do not change with production (exist even if you don\u2019t produce)<\/li><li>&nbsp;Variable costs \u2013 increase with production (stop if you shut down)<\/li><li>&nbsp;<a href=\"https:\/\/www.youtube.com\/watch?v=VFY2aJwpdNM\">Shut-Down Rule<\/a><\/li><\/ol>\n\n\n\n<p>P&gt;AVC &nbsp; &nbsp; &nbsp; \t &nbsp; continue producing<\/p>\n\n\n\n<p>P&lt;AVC&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; \tshut-down&nbsp; \/stop producing (short run)<\/p>\n\n\n\n<p>P&lt;ATC &nbsp; &nbsp; &nbsp; &nbsp; \tshut-down (long run)<\/p>\n\n\n\n<p>IV.&nbsp; Classwork on iLearn<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>59.1-59.2 &amp; Exit 59<\/li><\/ul>\n\n\n\n<p>V.\u00a0 Quiz on Tomorrow on Sections 58 &amp; 59<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I. Bellwork: on Google classroom II.&nbsp; Objectives: Evaluate a perfectly competitive firm\u2019s situation using a graph Determine a perfectly competitive firm\u2019s profit or loss Explain how a firm decides whether to produce or shut-down in the short-run III.&nbsp; Discussion:&nbsp; \u201cMicro 3.8 Perfect Competition in the Short Run A.&nbsp; Perfectly competitive firms take the market price [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95],"tags":[],"class_list":["post-17912","post","type-post","status-publish","format-standard","hentry","category-ap-micro-economics-f2019"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17912","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=17912"}],"version-history":[{"count":2,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17912\/revisions"}],"predecessor-version":[{"id":17914,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17912\/revisions\/17914"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=17912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=17912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=17912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}