PDF (Acrobat) Document File
Be sure that you have an application to open this file type before downloading and/or purchasing.
Ugh! Graphing production costs...
Student can really struggle with this one, but we've got you covered. If you're looking for an engaging and dynamic lesson that hits multiple intelligences and gives your students an opportunity to calculate and graph fixed costs, variable costs, total costs, and marginal costs of production, then look no further! This is the activity you've been waiting for!
This activity includes:
1) This "Graphing Costs" Activity includes 6 parts. 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.
2) A detailed answer key to the lesson activity to save you time and help guide student comprehension.
This activity can also be found in a bundle paired with a PowerPoint, Keynote and PDF version of a fully customizable lecture found here:
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 - Production Costs 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:
If you like the content of our store please head over to our Facebook page to like and follow us for updates on upcoming products and chances at free give aways!
You can also visit our shop right here on TPT and purchase Activities, Objective Bundles, Unit Bundles, Semester Bundles, and our Course Bundle, all of which align to our video lecture collection on YouTube!
Flip your classroom and the way your students learn economics TODAY!