Micro Unit 4: Perfect CompetitionThis is a great review for anyone brushing up on Perfectly Competitive Markets.Unit IV-1: Introduction to the 4 market structuresObjectives:1. TSW differentiate between the 4 main market structures.2. TSW identify the characteristics of perfectly competitive markets.Homework:1. Read and Outline Chapter 14 for Friday (10 Points)2.Unit IV-2: Hello Mr. DARP!!!Objectives:1. TSW understand and be able to draw MR=D=AR=P2. TSW will determine the location of profit maximization in a perfectly competitive market.Homework:
Unit IV-3: Shut Down Decision & MC=MRObjectives:1. TSW evaluate whether or not a firm ought to shut down due to changes in perfect competition.Homework:1. Prep for Quiz tomorrow through Page 14 in packet. (15 Points)
AP Practice Problem - Shut Down Decision PodcastUnit IV-4: Perfect Competition Practice Quiz (15 Points)Objectives:1. TSW take the Perfect Competition Practice Quiz (15 Points)Homework:1. NoneUnit IV-5: Marginal Cost/Supply Curve and changes in MC; Intro to Long-run equilibrium (pages 21-26)Objectives:1. TSW identify how the Marginal Cost curve becomes the Supply Curve.2. TSW identify how changes in variable cost will ultimately change the supply curve.Homework:1. NoneUnit IV-6: Short-run to long run (pages 27-31 in class)Objectives:1. TSW identify what factors cause markets to go from long run to short run.2. TSW identify how both the industry and firms change due to long to short run transactions.Homework:1. Page 15 in Packet (10 Points)Unit IV-7: Practice free response (pages 33-35)Objectives:1. TSW practice changes from short run to long run and from long run to short run back to long run through problems in their packet.Homework:1. Page 34 in Packet (10 Points)Unit IV-8: PC and efficiency (pages 36-41) + ReviewObjectives:1. TSW define the two types of efficiency (Productive and Allocative) again!!2. TSW identify equations which show the productive and allocatively efficient points on a graph.3. TSW understand why firms may not be productively efficient but will be allocatively efficient.Homework:1. Prep for Test (40 Points)2. Complete Pages 42-45 in packet.Unit IV Review FRQ - Perfect Competition Test (45 Points)Unit IV-9: Unit IV Test - Perfect Competition (45 Points)Objectives:1. TSW take the Unit IV Test. (45 Points)Homework:1. None!
Last Modified on December 11, 2014