{"id":18114,"date":"2019-12-02T07:38:33","date_gmt":"2019-12-02T12:38:33","guid":{"rendered":"https:\/\/iblog.dearbornschools.org\/farhoud\/?p=18114"},"modified":"2019-12-02T07:38:36","modified_gmt":"2019-12-02T12:38:36","slug":"ap-economics-12-02-19","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2019\/12\/02\/ap-economics-12-02-19\/","title":{"rendered":"AP Economics &#8211; 12\/02\/19"},"content":{"rendered":"\n<p>I.&nbsp; Bellwork:&nbsp; iLearn 67.1 Worksheet<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Copy &amp; Label the Graph &#8211; Answer the Questions<\/li><\/ul>\n\n\n\n<p>II. Objectives:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Determine the prices and profits in both in the short run and the long run for Monopolistic Competition<\/li><li>Construct and interpret graphs for short run and the long run monopolistic competition<\/li><li>Examine how changes in cost impact&nbsp; monopolistic competition and why it operates at less than capacity<\/li><\/ul>\n\n\n\n<p>III.&nbsp; Turn in Homework<br><\/p>\n\n\n\n<p>IV. Monopolistic Competition =&nbsp; \u201cMonopoly\u201d + \u201dCompetition\u201d<\/p>\n\n\n\n<p>Monopolistic Qualities<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Controls price of own good due to differentiated product<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; D greater than MR<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Plenty of Advertising<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Not efficient<\/p>\n\n\n\n<p>Perfect Competition Qualities<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Large number of smaller firms<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Relatively easy entry and exit<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Zero Economic Profit in Long-Run since firms can enter<\/p>\n\n\n\n<p>V. &nbsp; Classwork<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Page 674 MC 1-5<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Page 675 Tackle the Test #2<\/p>\n\n\n\n<p>\u00b7 &nbsp; &nbsp; &nbsp; &nbsp; Extra Credit?<br><\/p>\n\n\n\n<p>VI.&nbsp; Homework:&nbsp; &nbsp; 4.5 Monopolistic Competition Sheet<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I.&nbsp; Bellwork:&nbsp; iLearn 67.1 Worksheet Copy &amp; Label the Graph &#8211; Answer the Questions II. Objectives: Determine the prices and profits in both in the short run and the long run for Monopolistic Competition Construct and interpret graphs for short run and the long run monopolistic competition Examine how changes in cost impact&nbsp; monopolistic competition [&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-18114","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\/18114","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=18114"}],"version-history":[{"count":1,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/18114\/revisions"}],"predecessor-version":[{"id":18115,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/18114\/revisions\/18115"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=18114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=18114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=18114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}