Friday, January 6, 2017

Post date: Jan 11, 2017 4:7:6 PM

Today in class, we began by discussing the definition of the law of supply. Next, we discussed how labor influences supply.

Students completed an activity on Diminishing Marginal Utility (see extras bin in our classroom for a copy of this).

As part of the activity, we discussed fixed costs, variable costs, total product, marginal product, total revenue, diminishing marginal utility, and increasing returns.

Homework:

1. read and take notes on 6.1