12 6/27 Interpret neoclassical theory of the firm through graphical exposition of production functions Cost of Production: Opportunity cost, sunk cost, fixed cost Unit Objective: Use neoclassical cost theory by 13 6/29 graphically deriving run marginal cost curve from marginal product of labor Exam Administered July 4th Holiday 7/4 Harvard Case Study Presentations 14 7/6 Profit Maximization and Competitive Supply 15 7/11 16 7/13 Profit Maximization and Competitive Supply: Revenue, marginal revenue and profit maximization. Unit Objective: Apply neoclassical production and cost theory to the competitive firm 17 7/18 Monopoly Unit Objective: Interpret the concept of market power by determining graphically the profit maximizing price/quantity combination for a pure monopolist Oligopoly 18 7/20 19 7/25 Monopolistic Competition and Oligopoly: Product 20 7/27 Differentiation with free entry. Historical oligopoly models Final Administered 21 8/1
12 13 14 6/27 6/29 7/4 7/6 Interpret neoclassical theory of the firm through graphical exposition of production functions Cost of Production: Opportunity cost, sunk cost, fixed cost Unit Objective: Use neoclassical cost theory by graphically deriving run marginal cost curve from marginal product of labor Exam Administered July 4th Holiday Harvard Case Study Presentations 15 7/11 Profit Maximization and Competitive Supply 16 7/13 Profit Maximization and Competitive Supply: Revenue, marginal revenue and profit maximization. Unit Objective: Apply neoclassical production and cost theory to the competitive firm 17 18 7/18 7/20 Monopoly Unit Objective: Interpret the concept of market power by determining graphically the profit maximizing price/quantity combination for a pure monopolist Oligopoly 19 20 21 7/25 7/27 8/1 Monopolistic Competition and Oligopoly: Product Differentiation with free entry. Historical oligopoly models Final Administered
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