Good Morning! Today’s class: Finish off WS 9 Midterm Prep

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Presentation transcript:

Good Morning! Today’s class: Finish off WS 9 Midterm Prep Don’t forget: To do Worksheet 9 (covered on the midterm, but collected February 8th) Review & Practice for exam Extra review sessions (optional): Lectures A & B: Monday 3-4 in EEB 105 Lecture C: today 5-6 in SMI 205

WS9, Part II: Reading BEP from graphs of AC & MC Reading SDP from graphs of AVC & MC

q 100 200 300 400 500 600 700 800 900 1000 MC 1.88 0.68 0.08 3.68 6.08 9.08 12.68 AC 7.73 4.48 2.90 2.33 1.93 1.81 1.94 2.30 2.88 AVC 2.73 1.98 1.43 1.08 0.93 0.98 1.14 1.68 3.18 200

Amounts ($) Tangent Slopes ($/item) q 100 200 300 400 500 600 700 800 900 1000 MC 1.88 0.68 0.08 3.68 6.08 9.08 12.68 AC 7.73 4.48 2.90 2.33 1.93 1.81 1.94 2.30 2.88 AVC 2.73 1.98 1.43 1.08 0.93 0.98 1.14 1.68 3.18 ($ per item)

DiagonalSlopes ($ / item) Amounts ($) q 100 200 300 400 500 600 700 800 900 1000 MC 1.88 0.68 0.08 3.68 6.08 9.08 12.68 AC 7.73 4.48 2.90 2.33 1.93 1.81 1.94 2.30 2.88 AVC 2.73 1.98 1.43 1.08 0.93 0.98 1.14 1.68 3.18 DiagonalSlopes ($ / item) ($ per item)

Reading BEP from MC/AC: On the TC graph: BEP corresponds to the slope of the lowest diagonal line which is tangent to the graph of TC. Lowest AC MC So on the graph of MC vs q we can locate BEP at the point where MC equals (crosses) AC. (y-coordinate) BEP=1.8

Reading SDP from MC/AVC : Similarly: on the graph of VC vs q: the SDP corresponds to the slope of the lowest diagonal line which is tangent to VC. Lowest AVC MC So on the graph of MC vs q we can locate SDP by looking where MC equals (crosses) AVC. (y-coordinate!) SDP=0.9