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Teaching how to graph cost curves can be tough, and students can find it difficult to understand. We get it, and we're here to help! This engaging and comprehensive bundle has every tool you need to put together a complete lesson that gets the job done!
This "Graphing Cost Curves" bundle includes:
1) A customizable lecture that you can adjust to meet your needs and the needs of your students. This bundle includes a version of this lecture in Keynote (Mac), Powerpoint (PC), and PDF format for users of every operating system.
*****Depending on the version of the presentation software that you use to present in your classroom, fonts and sizes in our lecture presentations may need adjustment. To make it easier for you to create a lecture that engages your students and looks like the PDF file included in this bundle, we offer downloadable font bundles in our store for FREE!
At absolutely no cost to you, you can get your hands on the fonts that we use in our lectures so that you can customize your presentations. Download the Free Font Bundle, install the fonts onto your computer, and customize your lecture in the way that works of you. Adjust sizes, fonts, images, and content to meet your needs and the needs of your students!*******
2) A "Graphing Costs" Activity. It begins by asking your students to use data provided to calculate the total cost, variable cost, and fixed cost for a firm. Your class will then be required to use the data they've collected to plot the production costs for the firm and draw fixed, variable, and total cost curves on a frontier provided and answer questions about their slopes and relationships to each other. Next, students will use a graph of the fixed cost, variable cost, and total cost curves for a firm provided to answer questions about the relationship between production costs and production levels. Students will then use data provided to calculate the average total cost, average variable cost, average fixed cost, and marginal cost per unit of output for a firm. Your class will then be required to use the data they've collected to plot the per-unit production costs for the firm and draw AFC, AVC, ATC, and MC curves on a frontier provided. Next, your class will use a graph of the average fixed cost, average variable cost, average total cost, and marginal cost curves for a firm provided to answer questions about the relationship between per-unit production costs and production levels. Lastly, using a table of economic costs, students will use data provided to calculate the average total cost, average variable cost, average fixed cost, and marginal cost per unit of output for a firm. Students will then be tasked with re-calculating theses costs after a change in fixed cost and variable cost, and then graphing the original curves and new curves on a frontier provided.
This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.
3) A detailed answer key to the lesson activity to save you time and help guide student comprehension.
If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.
Best of all, this activity aligns to our "Unit 3.4 - Graphing Cost Curves" video lecture, which can be found here:
For more of our video lectures, check out our "You/Will/Love Economics" YouTube channel and subscribe for upcoming videos:
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