WEEKLY LEARNING LOG

Name: Franchesca Dyne M. Romarate Student No.: 2020-65844 Page No. ___

Unit and Evaluation of

Date and Time I have learned that… I have a question about…
Module the Module
Date: May 10, UNIT 5 Supply has been introduced in Econ 11 but this ● Does implicit cost contribute to 1. SA
2021 unit helped me in recalling important concepts. economic income? 2. A
Start Time: 10:00 I have recalled the time dimension of supply. 3. SA
End Time: 11:30 Very short run period refers to when the
producer cannot adjust to input that could bring
a significant effect in output level. Short run
period is when a producer cannot adjust at least
one input considering that other inputs are
variable. Long run period on the hand, is when
the producer can adjust all inputs. These
dimensions can be easily observed through the
behavior of graphs plotted in Q vs P. Types of
cost are classified into two: according to
manner it is shouldered and according to level
of production. Explicit cost, which covers the
expenses in factors of production and implicit
cost, which accounts for the resources owned
by a firm, will fall under the first type. Fixed
and variable cost are included in the 2nd type.
Fixed cost remained constant throughout
production. If cost changes in the level of
production, then it’ll be considered as variable
cost. This module helped me also in deriving
different variables from the formula of each
variable.
Date: Unit: 1.

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If you are not yet evaluating a module because you are still studying it, just leave the cell blank.
1. More time should be allowed for this module.
2. The module contains too many contents.
3. I find the module useful or practical.
SA (Strongly Agree), A (Agree), D (Disagree), SD (Strongly Disagree)

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