AP Economics

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Monday
9/18

Activities:

  • review Utlity Maximizing formula:

    MUx/Px=MUy/Py

"Elasticity Day #1"

  • (Total Revenue Test)
    demonstrate elasticity & inelasticity with meter stick & rubber band 

Homework:

return to previous month's plans

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Tuesday
9/19

Activities:

Homework:

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Wednesday
9/20

Activities:

Homework:

  • Complete Activities: 2-6
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Thursday
9/21

Activities:

  • (Block) No Class

Homework:

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Friday
9/22

Activities:

Homework:

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Monday
9/25

Activities:

Homework:

return to previous month's plans

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Tuesday
9/26

Activities:

  • Unit Test on:  
    Basic Concepts/
    Nature &
    Function of Markets

  • (includes all activities from Unit 1 & 2)

Homework:

  • none
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Wednesday
9/27

Activities:

  • (Block) No Class

Homework:

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Thursday
9/28

Activities:

Homework:

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Friday
9/29

Activities:

  • Discuss Activity 3-1 & 3-2
  • Short Run v. Long Run 
  • Review: 7 types of Cost Curves, 3 types of Profit

Homework:

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Monday
10/2

Activities:

Homework:

  • Finish Activity 3-4

 

 

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Tuesday
10/3

Activities:

Homework:

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Wednesday
10/4

Activities:

  • (Block)  No Class

Homework:

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Thursday
10/5

Activities:

  • (Block)  (Srs. only)    "Jr. Day"
  • 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

Homework:

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Friday
10/6

Activities:

  • Quiz on Ch. 8 (Costs of Production)
  • 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
  • Complete 3-5 &  3-6

Homework:

  • Print All Visuals for Unit 3 & place in notebook!
    incl. many copies of Graphing Sheet
  • Complete 3-5 &  3-6
  • Begin to Read Chapter 9 Pure Competition  at least pp.467-477)

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Monday
10/9

Activities:

Homework:

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Tuesday
10/10

Activities:

Homework:

  • Complete through Activity  3-7
  • Study for Quiz on Perfect Competition on Block Day
  • Practice on Bb
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Wednesday
10/11

Activities:

  • (Block)  No Class
  •  

Homework:

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Thursday
10/12

Activities:

  • (Block)   Perfect Competition Attack!!!
  • Productive Efficiency,   Allocative Efficiency
  • Graphing different situations
  • TR & TC Curve (in Perf. Comp)
  • Graph Practice Sheet
  •  [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
  • What happens in a Perf Comp. Mkt when Economic Profits are being earned?
  • What happens in a Perf Comp. Mkt when Economic Losses are occurring?
  • 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
    Productive Efficiency,   Allocative Efficiency
  • Quiz on Perfect Competition

Homework:

  next month's plans
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Friday
10/13

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
10/16

Activities:

  • No School (Fall Break)

Homework:

  • -----

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Tuesday
10/17

Activities:

Homework:

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Wednesday
10/18

Activities:

  • (Block) 
  • No Class
 

Homework:

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Thursday
10/19

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
 10/20

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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