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Unit 3: Costs and Perfect Competition

Date

Agenda

Homework

Helpful Videos 
 10.9 Differentiation day
1. Video option to earn one extra exam make up section link
2. MC unit 2

Or,
1. Past FRQs (2009 #2, 2005 #2)
2. Payback link
 

PROMPTS – Choose One:

(1) How has the PAYBACK game changed your perspective on the real-life decisions you will make when paying for college?

OR

(2) What steps can you take NOW in order to complete college with as little debt as possible?


       CRITERIA: Essays will be evaluated by NGPF staff based on the following criteria: Prompt is clearly addressed Essay indicates an understanding of key concepts learned by playing the game PAYBACK Thoughts are well-articulated in a creative way Students adhere to the 250-word limit

 
10.11  Introduce market structures: candy game link
Handout link
MC 54, 55
Notes 56, 57
IBHL: chapter 6 reading guide link
 
 10.16 Substitute: Inside Job    
10.18 Production and cost link
Diminishing marginal productivity simulation
Handout link
MC 56, 57
Notes 52, 53
IBHL: chapter 6
Unit 2 Make Up Exam MC link
Unit 2 Make Up FRQs link
 Diminishing returns video link
Total, marginal, and average product link
Online activities link (choose MICRO, then COSTS)
10.22 Production and cost link
Handout link and link

MC 52, 53
Notes 58
IBHL: chapter 6
Study for quiz (market structures, cost curves)
 
10.24 Go through answers to the cost packet, white board review
Quiz 5: market structures, cost curves
Long run and short run ATC curves handout link 3.4
MC 58
Notes 59
IBHL: chapter 7 reading guide link
 Productivity and costs in the short run link 
Relationships between a firm's short-run costs of production link
Long-run Average Total Cost and Economies of Scale link
10.26 Revenue, profit, and profit maximization rules
Handout link 3.5
Perfect competition link
Handout link 3.6

  Demand, Marginal Revenue, and Profit Maximization for a Perfect Competitor link
10.30 Perfect competition
Profit, loss, and shut down link
Handout link 3.7
MC 59
Notes 60
IBHL: chapter 7
 Online activities link (choose MICRO, then PERFECT COMPETITION)
The Shut-Down Rule link 
Efficiency in Perfectly Competitive Markets link
11.1  Perfect competition in the long run video
Handout link 3.8
ANSWERS TO 3.7-3.8 link
Constant, increasing, decreasing costs
FRQ practice: 2010 #1
 Handout link 3.9 (we'll go through the answers before the exam)
MC 60
IBHL: chapter 7
Study for exam next block Unit 3 Study Topics
Exam 3 make up multiple choice link
Exam 3 make up FRQ link
 From Short-run to Long-run in Perfect Competition link

Here's a quick graphing video for your studying pleasures link
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