Wednesday, September 13th - Friday, September 15th, 2006

Costs and Supply

OBJECTIVE 

Students shall be able to

1. define and identify fixed, marginal, variable and total costs,

2. differentiate between a change in fixed costs and marginal costs on economic decision-making,

3. calculate business profit,

4. identify diminishing marginal returns, and

5. identify the profit-maximizing level of output for a firm.

 

ACTIVITIES

1. In a large group activity, students shall complete the "Costs" exercise.

2. In a large group activity, the class shall complete a production schedule. [This is an Excel file.]

3. Working individually, students shall complete a production schedule.

4. Students shall complete a quiz.

Assignment: Respond as instructed in class in your notebook. Complete the second production schedule and paste it on the left side of your notebook:

• Click here for a Microsoft Excel version.

• Click here for an html version.

Complete the Supply crossword puzzle. [Click the link for the Microsoft Word version or the Adobe PDF version.]

 

ASSESSMENT PROCEDURES

Monitor and adjust, as needed. Check student responses while working. Grade student responses when notebooks are collected.
 

TEKS involved: 2A, 2C, 2D, 3A, 3B, 4A, 4B, 5A, 7A, 7B, 8B, 9C, 10A, 10B, 11A, 12B, 13C, 14A, 15A, 15B, 16A, 17A, 17C, 20A, 20B, 21A, 22B, 23A, 23B, 23C, 23D, 23F, 23G, 24A, 24B, 24C, 24D, 25A, 26A, 26B, 26C, 26D, 27B