Continue with shifts of equilibrium. Worksheets in class. Go over. Taxes and equilibrium.
Audible Tone: Do we want minimum wage set above or below equilibrium? by a lot or a little? Why?
Continue with shifts of equilibrium. Worksheets in class. Go over. Taxes and equilibrium.
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Audible Tone: Plot the following P 0 QD 20 QS o, P $1 QD 16 QS 4, P $2 QD 12 QS 8, P $3 QD 8 QS 12, P $4 QD 4 QS 16, P $5 QD 0 QS 20
We will go over the worksheets from earlier in the week. We will discuss price ceilings and price floors. Begin shifts in equilibrium. Possible worksheets. Audible Tone: What is equilibrium? This is the same as yesterday. 1/2 of the students took the M-STEP test yesterday during class. The other 1/2 are doing it today. So today is a repeat of yesterday for those who weren't here. Go over quizzes, read/define 6/1-2 terms. Discuss equilibrium. Worksheets on chapter 6 section 1.
Third hour will do the worksheets in class. They are moving at a slightly different pace in class. Audible Tone: What is equilibrium?
Go over supply quiz. Read define 6/1-2 key terms. Go over equilibrium. Chapter 6 section 1 worksheet. Audible Tone: How do you figure revenue? total cost? profit? Turn in.
We will do a review sheet on supply for the first half of class. The second half will be the supply quiz. Audible Tone: What causes a shift in supply?
Shifts in supply. Worksheet on shifts in demand (chapter 5 section 3) in class. Correct in class. Tomorrow there will be a review sheet in class then the supply quiz. Audible Tone: Draw an inelastic supply curve. Why does this happen? Draw an elastic supply curve. Why does this happen. Label each supply curve (inelastic and elastic)
Read/define chapter 5 section 2 terms. Discuss marginal product of labor and revenue, total cost, and profit. Audible Tone: Why do supply curves go up and to the right?
Go over the quiz from yesterday. Cover elasticity of supply (chapter 5 section 1). Do worksheets on chapter 5 section 1 in class and go over. Quiz on supply possibly Friday. Audible Tone: What causes movement along the curve from A>B? What causes a shift in the demand curve from D1>D2?
Demand Quiz today. Begin supply. Read/define chapter 5 section 1 key terms. Audible Tone: What is meant by elastic demand? What causes it? What is meant by inelastic demand? What causes it?
Go over the sheets of labor on elasticity of demand in class. Do a review sheet for demand and go over in class. Quiz on demand (chapter 4) on Monday. |
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