Week Day Class Topic Assignment Reminder/Information # 3 Monday, Class #6 ILA #1 Part One: videos & questions ILA #2 is open. Part One is due at 8:00 am on 2/6 and Part January 30 due today at 8:00 am. The assignment Two is due at 5:00 pm on 2/10. Theory of the has been open for one week. Business Firm See posted on Blackboard under Modules Wednesday, Class #7 See posted notes on Blackboard under February 1 Production Modules Friday, Class #8 ILA #1 Part Two ILA #1 Part Two due today at 5:00 pm. LearnSmart Achieve LearnSmart Achieve February 3 Online due today at 5:00 pm. The assignment The assignment has been open for 11 days. has been open for 11 days. Theory of the Business ILA #2 is open. Part One is due at 8:00 am on 2/6 and Part No in-person today! Firm/Production Two is due at 5:00 pm on 2/10. Blackboard You have your Discussion Board Discussion No office hours today Blackboard Discussion Question – Assignment. This assignment, which Question instead. counts as one of your 10-point Class Community Learning Activities, is only open for the 50 minutes during which our class would normally meet. Learning Objectives for Theory of the Business Firm and Production - week #3: Determine whether a cost is implicit or explicit. Calculate economic and accounting profits. Calculate a firm's total, marginal, and average product. Calculate a firm's fixed, variable, and total costs of production Calculate a firm's average costs of production. Calculate a firm's marginal costs of production. Describe the relationship between marginal cost and average cost and between marginal cost and average variable cost. Illustrate the relationship between the short- and long-run average total cost curves. Describe the shape of the long-run average total cost curve as it relates to decreasing, constant, and increasing average total costs.
Week # 3 Day Class Topic Assignment Reminder/Information Monday, January 30 Class #6 Theory of the Business Firm ILA #1 Part One: videos & questions due today at 8:00 am. The assignment has been open for one week. See posted on Blackboard under Modules ILA #2 is open. Part One is due at 8:00 am on 2/6 and Part Two is due at 5:00 pm on 2/10. Wednesday, February 1 Class #7 Production See posted notes on Blackboard under Modules Friday, February 3 Class #8 Online Theory of the Business Firm/Production Blackboard Discussion Question ILA #1 Part Two LearnSmart Achieve due today at 5:00 pm. The assignment has been open for 11 days. No in-person today! You have your Discussion Board Assignment. This assignment, which counts as one of your 10-point Class Community Learning Activities, is only open for the 50 minutes during which our class would normally meet. ILA #1 Part Two LearnSmart Achieve due today at 5:00 pm. The assignment has been open for 11 days. ILA #2 is open. Part One is due at 8:00 am on 2/6 and Part Two is due at 5:00 pm on 2/10. No office hours today – Blackboard Discussion Question instead. Learning Objectives for Theory of the Business Firm and Production - week #3: Determine whether a cost is implicit or explicit. Calculate economic and accounting profits. Calculate a firm's total, marginal, and average product. Calculate a firm's fixed, variable, and total costs of production Calculate a firm's average costs of production. Calculate a firm's marginal costs of production. Describe the relationship between marginal cost and average cost and between marginal cost and average variable cost. Illustrate the relationship between the short- and long-run average total cost curves. Describe the shape of the long-run average total cost curve as it relates to decreasing, constant, and increasing average total costs.
econ_2302_sp17_doty.docx