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  • Economics Sheet

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    Sawar Raj Arora
    16 views7 pages
    This document outlines lesson objectives to explain the distinction between short-run and long-run production with reference to fixed and variable factors. It aims to distinguish between total, marginal, and average costs and draw diagrams illustrating the relationship between marginal and average costs and production in the short-run. Learners will calculate costs from data and diagrams, including total fixed costs, total variable costs, total costs, average fixed costs, average variable costs, and marginal costs. Video tutorials and stations provide supplemental material on these objectives.

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    economics sheet

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    This document outlines lesson objectives to explain the distinction between short-run and long-run production with reference to fixed and variable factors. It aims to distinguish between total, marginal, and average costs and draw diagrams illustrating the relationship between marginal and average costs and production in the short-run. Learners will calculate costs from data and diagrams, including total fixed costs, total variable costs, total costs, average fixed costs, average variable costs, and marginal costs. Video tutorials and stations provide supplemental material on these objectives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    16 views7 pages

    Economics Sheet

    Uploaded by

    Sawar Raj Arora
    This document outlines lesson objectives to explain the distinction between short-run and long-run production with reference to fixed and variable factors. It aims to distinguish between total, marginal, and average costs and draw diagrams illustrating the relationship between marginal and average costs and production in the short-run. Learners will calculate costs from data and diagrams, including total fixed costs, total variable costs, total costs, average fixed costs, average variable costs, and marginal costs. Video tutorials and stations provide supplemental material on these objectives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 7

    Lesson objectives:

    Explain the distinction between the short run and the long run, with reference to fixed factors and
    variable factors.
    Distinguish between total costs, marginal costs and average costs.
    Draw diagrams illustrating the relationship between marginal costs and average costs and explain
    the connection with production in the short run.
    Calculate total fixed costs, total variable costs, total costs, average fixed costs, average variable
    costs, average total costs and marginal costs from a set of data and/or diagrams.
    Video tutorial

    https://www.youtube.com/watch?v=ucJBO9UTmwo

    https://www.youtube.com/watch?v=BQvtnjWZ0ig ( profit maximization )


    Station 1 :
    Station 4 :

    Create your own table :


    Station 2 :
    Station 3

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