Pg. 63 and 64

Bellwork:

Write your answer on the back of Production Function Practice #2.

1. What is the difference between total product and marginal product?
2. What is the difference between Stage I and Stage II in the Stages of Production?

Agenda:

1. Complete the Production Function Practice #2. This page will go on p. 63 in your notebook.
2. When you are done with p. 63, title pg. 64: “Cost/Revenue Definitions”
3. On p. 64, write out the Content vocabulary terms of textbook p. 132 and define them.