Friday, January 8, 2016

Post date: Jan 13, 2016 10:7:7 PM

Today in class, we discussed 5.1 and 5.2 notes on supply. Specifically, we discussed the law of supply, marginal product, how specialization relates to marginal product, increasing returns, decreasing returns, production costs, and profit maximizing output. A PowerPoint was used to offer a review of these notes, and students shared their own responses to questions from the "Ch. 5: Supply - Application Questions - Merged" Packet that was completed in class on Wednesday when there was a substitute. See attachment below for a copy of the "Ch. 5: Supply - Application Questions - Merged" Packet.

Homework:

1. Read and take notes on Ch. 6, Section 1 - on Price