Monday
10/25
"Monopoly Day #3"
-
Discuss Monopoly Handout
(Answers to Handout) - Economies of Scale (Natural Monopoly)
- Natural Monopoly vs. Normal Monopoly
- Economics regulation at Fair Return & Socially Optimal Point (Perfect Allocation Point)
-
Natural Monopoly
Graph (w/regulation points)
- Discussed that Government regulation can also occur with Pure monopoly and there are different implications
Homework:
Tuesday
10/26
"Monopoly Day #4"
Homework:
Suggested Videos
Wednesday
10/27
Homework:
- Study for Monopoly Quiz (on Friday)
Thursday
10/28
- (Block) No Class
Homework:
- Study for Monopoly Quiz
-
10 practice questions for Monopoly Quiz
- Practice Quiz 1 on Textbook Site
-
Practice Quiz 2 on Textbook Site
- AP Classroom Monopoly Practice Questions (2 sets)
-
- ACDC Micro 4-5 Socially Optimal & Fair Return Points for Monopolies (2:58)
- ACDC Micro 4-5 Socially Optimal & Fair Return Points for Monopolies (2:58)
Friday
10/29
- Monopoly Quiz
- Discriminating Monopolist &
Perfectly Discriminating Monopolist - 3 Assumptions for Monopolies (requirements) for Price Discrimination (p. 227 in text)
- passed out 2 FRQs (Monop & Perf Comp)
Homework:
-
Complete both
2 FRQs (Monop & Perf Comp) [we will grade in
class]
- Complete
3-15
- Remember the 3 Rules:
Monday
11/1
Monopoly Day #5"
- Discuss both 2 FRQs (Monop & Perf Comp) [we will grade in class]
- Answers to FRQs: 2012 "Steverail" & 2014 "Assume gasoline.." & 2008 B #1 Answer
- Market Characteristics
- What are the 3 Rules?
Homework:
Optional:
Tuesday
11/2
"Monopolistic Competition Day #1"
Homework:
Required
:- Complete Activity 3-16
Optional:
-
Monopolistic Competition
Practice Questions (21) in Textbook site
- ACDC Micro 4-7 Ultimate Monopoly Review(2:37)
-
Read:
Textbook Ch. 12 pp. 239-244
Wednesday
11/3
- (Block)
- Discuss Activity 3-16
- Practiced Graphing
- Completed 2007 B #1 (Monop Comp)
-
Completed Monopolistic Comp.
Quiz on Textbook Site
- All Markets Characteristics
Answer to 2007 B #1
Homework:
Thursday
11/4
- (Block) No Class
Homework:
- AP Classroom Monopolistic Competition Practice Quiz 1
Friday
11/5
-
(No School)
Homework:
- Suggested FRQs to practice with:
- FRQ
2002 B #1
& Answer
-
2016 #3 &
Answer
-
- ACDC Micro 4-11 Monopolistic Competition in the Long Run (3:25)
- ACDC Micro 4-6 Lump Sum and Per Unit Subsidy (Tax) (2:04)
- Study Tips for Imperfect Competition
Test (1:00 JSlo video)
Monday
11/8
-
Lump Sum & Per Unit Tax/Subsidy
graphical comparison
-
Discuss:
FRQ 2002 B #1
& Answer
and 2016 #3 & Answer
Homework:
- Study Tips for Imperfect Competition Test (1:00 JSlo video)
- Study for FRQ Test
on Perfect Competition, Monopoly, & Monopolistic Competition
(2 FRQs) - Micro Unit 3 Answers to MC
-
-
ACDC Micro 4-8 Oligopolies & Game Theory
(3:25)
Tuesday
11/9
- FRQ Test on Perfect Competition, Monopoly, & Monopolistic Competition
Homework:
Wednesday
11/10
- (Block)
Oligopoly Day #1/2
Ch 13 PPT(p. 251) the Prisoner's Dilemma
Homework:
- Complete Activity
3-17
- Ch 13 (pp. 248-252 top)
[Oligopoly]
Thursday
11/11
- (Block) No Class
Homework:
- Complete 3-17
Friday
11/12
- pass back test?
Oligopoly Day #1 1/2
- Game Theory (p. 526) the Prisoner's Dilemma
- Dominant Strategy - The dominant strategy in game theory refers to a situation where one player has a superior tactic regardless of how the other players act.
Dominated Strategy - -------------------
- Discuss 3-17
Homework:
Required
- Complete :
2019 #3 (set 1) & 2019 #3 (set 2)
[the answers are located in the FRQ section of the Homepage]
Strongly Suggest Watching
Monday
11/15
- Discuss
2019 #3 set 1 Answers &
- Discuss: different ways prices get developed in Game Theory....
Homework:
- Practice in AP Classroom (Game Theory & Oligopoly Practice)
- Practice Questions on Text Site
Tuesday
11/16
- finish going over Game Theory & Oligopoly
- different types of games in Game Theory
(i.e. "one time" [simultaneous], "repeated" [which can lead to cooperation], - Finished Ch 13 PPT Collusion (Cartel), Price Leadership
- Economic Rent
Homework:
- Practice in AP Classroom
- Practice Questions on
Text Site
- [ACDC Micro 4-10 Kinked Demand Curve (2:03) (don't have to worry about this but it is interesting)]
- Study for Quiz on Oligopoly & Game Theory
Wednesday
11/17
Activities: (real short)
-
Oligopoly & Game Theory Quiz
Homework:
- Practice in AP Classroom
- Practice Questions on Text Site
-
Watch: Intro to Factor Markets (10:26) before Friday 11/19
Thursday
11/18
- (Block) No Class
Homework:
- Watch: Intro to Factor Markets (10:26) before Friday 11/19
Friday
11/19
- (Block) Game Theory debrief of Quiz
- Review JSlo Intro Video contents
- review Circular Flow w/ Product Markets & Factor Markets
- used Vis 4-1 Big Ideas about Factor (Resource) Markets to introduce ideas
- The Supply and Demand for Labor in a Competitive Labor Market
(Vis
4-4)
- MRC in Perfectly Competitive Labor Market
- define:
Derived Demand
Marginal Product, Marginal Revenue Product, Marginal Resource Cost (aka Marginal Factor Cost) - Review MRP determinants:
(Price of Product & Productivity of Resource) for firm in perfectly competitive resource mkt. - Demand for a Resource when both Product & Resource
Market are Perf. Comp
(Vis 4-2)
- Begin work on 4-1
- Introduced
Activity
4-2
(on Least Cost/Profit Max Rules) -
Homework:
- Print out all the Visuals
for Unit 4
Required
- Watch
JSlo Video (Factor Markets #2 : Monopsony
(7:48)
- Complete Activities
4-2 &
4-3 &
4-4
- Practice Factor Mkt. FRQ
2011 B #3
-
10 ?s to Study for Quiz on Factor Markets
(20th ed of text) - ACDC Micro 5-4 Resource Market MRP & MRC (2:55) (good for practice)
- ACDC Micro 5-3 Comparing Product & Resource Markets (2:28) (okay for after)
Chap. 14 (pp. 273-279)-
ACDC MIcro Intro - Resource Markets
(1:23)
- ACDC Micro 5-1 Market & Minimum Wage (3:27) (good)
- ACDC Micro 5-2 Perfectly Competitive Labor Market & Firm (3:28) (very good)
Optional/Additional