AP Economics

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Monday
9/17

Activities:

"Elasticity Day #1"

Homework:

return to previous month's plans

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Tuesday
9/18

Activities:

Homework:

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Wednesday
9/19

Activities:

  • (2nd & 5th Block) 
  • No Class

Homework:

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Thursday
9/20

Activities:

Homework:

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Friday
9/21

Activities:

Homework:

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Monday
9/24

Activities:

  • Test will be on Block Day !
  • Deadweight Loss  (Very Big Stuff)
  • Review 2-6 & 2-7 & 2-9
  • Overview of Unit

Homework:

return to previous month's plans

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Tuesday
9/25

Activities:

Homework:

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Wednesday
9/26

Activities:

Homework:

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Thursday
9/27

Activities:

  • (2nd Block) 
  • No Class
  • (5th Block) see yesterday

Homework:

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Friday
9/28

Activities:


Homework:

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Monday
10/1

Activities:

Homework:

  • Read Chapter 8 (pp. 160-163, 166-171) 
    (Don't read any more than 1/2 hour at a time)
  • Finish Activities 3-3
  • Finish Activity 3-4

 

 

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Tuesday
10/2

Activities:

Homework:

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Wednesday
10/3

Activities:

  • (2nd & 5th Block) 
  • No Class

Homework:

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Thursday
10/4

Activities:

  • (2nd & 5th Block) 
  • Buckle seatbelts, we will be moving/flying......
  • Discuss Activity 3-3
  • Discuss Activity  3-4
  • Normal Profit = Zero Economic Profit
  • practiced graphing the MC & ATC & AVC curves
  • AR=MR=P=D for a firm in a perfectly competitive market  (Mr. P AR D)
  • MR=MC determines Profit Maximizing (Q) OUTPUT for firms
  • Meet my friend, "MR=P=AR=D"
  • Shutdown Point
  • First run through The 3 Rules of Production
  • 3 Rules of Production:
  • [Rule #1: MR=MC Rule]
     
    [Rule #2:
    Price on Demand Curve at Profit Max Qf]
  • Rule #3: TR= or > TVC  (AR= or > AVC)

Homework:

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Friday
10/5

Activities:

  • Law of DMR shown w/ MC Curve &
    Economies of Scale shown by ATC Curve
  • Normal Profit = Zero Economic Profit
  • practiced graphing the MC & ATC & AVC curves
  • AR=MR=P=D for a firm in a perfectly competitive market  (Mr. P AR D)
  • MR=MC determines Profit Maximizing (Q) OUTPUT for firms
  • Meet my friend, "MR=P=AR=D"
  • Shutdown Point
  • Review 3 Rules of Production:
  • A Firm at LR Equilibrium has many relationships, for example:

    MR=MC,            MC=Min ATC, MR=P=AR=D,    P=Min ATC,
    P=MC,                AR=ATC,
    Zero Economic Profit = Normal Profit
  • Complete 3-5 &  3-6

Homework:

  • Study for Quiz on Ch. 22
    (Costs of Production Quizzes)
    on Bb
  • Print All Visuals for Unit 3 & place in notebook! incl. several copies of Graph Practice Sheet
  • Complete 3-5 &  3-6
  •  Chapter 9 Pure Competition (pp. 183-196)

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Monday
10/8

Activities:

Homework:

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Tuesday
10/9

Activities:

Homework:

  • Complete through Activity  3-7
  • Practice on Bb
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Wednesday
10/10

Activities:

  • (2nd & 5th) 
  •  No Class
  • Graphing different situations
  •  [MR=MC Rule, Price on Demand Curve at Profit Max Q, TR= or > TVC]
  • Zero Profit=Zero Economic Profit
  • AR=MR=P=D for a firm in a perfectly competitive market (Mr. P AR D)
  • MC curve above AVC is individual firm's supply curve
  • Vis 3-6 (Profit, Loss, and Shut-Down)
  • Shutdown Point


Homework:

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Thursday
10/11

Activities:

  • Quiz on Costs of Production & Perfect Competition

Homework:

  next month's plans
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Friday
10/12

Activities:

  • No School (Fall Break)
  • Went over example of firm in PC developing production improvement ahead of industry
  • Go over 3-6 & 3-7 Answers
  • Zero Profit=Zero Economic Profit= Normal Profit
  • Jason Welker YouTube Channel

Homework:

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Monday
10/15

Activities:

  • No School (Fall Break)

Homework:

  • -----

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Tuesday
10/16

Activities:

Homework:

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Wednesday

Activities:

  • (Block) 
  • No Class
 

Homework:

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Thursday

Activities:

  • (Block) deriving LR Supply Curve for:
    Constant Cost Industry
    Increasing Cost Industry
    & Decreasing Cost Industry
    (very rare)
  • Game Day
  • Competition Data

Homework:

next month's plans
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Friday
 

Activities:

 "Monopoly Day #1"

  • Began Chapter 24 Monopoly PPT
  • Characteristics of Monopoly: Single Seller, No Close Substitutes, Price Maker, Barriers to Entry, Non-Price Competition
  • Explained why MR<D (Price)
    for a monopolist  (p. 218)
  • Why is P>MR for a Monopolist?
  • 3 Rules of Production:  Huge!!!

Homework:

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