Friday, March 16, 2007

Info for Monday

Hey there -

I know all of you were in class on Friday, but just a reminder - any posts you want to make this weekend are extra credit. :)

Papers are due Monday. Remember - use graphs to help you explain your point - cite your sources - make sure you have an intro & conclusion - about 4 pages. I know that sounds simplistic...but half of you didn't turn in a rough draft, so I'm nervous.

You will get a sheet on Monday outlining the things you must, gotta hafta know about PC. Take a look at the outline, the sites listed below, etc. Seriously - you HAVE to know this stuff, and we must move on to the other markets.

Have a nifty weekend - see you Tuesday -

7 comments:

keri said...

hi how do you know if a company is in long-run equillibrium? which numbers am I supposed to look at for these questions? I was a little confused on this part...but you'll be happy to know, or maybe you won't care but I'm happy to know, that I've been reading the book and I understand most other PC stuff...see you tuesday

Kate said...

I had actual fun with my blog post this weekend, i think you will enjoy it, have fun, wherever you are!

Gina said...

I was just wondering how strict you are going to be with the citations in our papers. I don't know if I did it right. Also, do you want us to turn in our rough drafts with the finals?

Raveen Shah said...

Question: How does economic profit differ from accounting profit? Are they not both a firm's total revenue minus its explicit costs?

domino said...

raveen, as far as i understand it, the differences between economic and accounting profits are that economic profits take opportunity costs into consideration.

KM said...

LR equilibrium is when MC=P=ATC on the individual firm graph. P will pull over to the equilbrium point on the S & D graph for the industry.

Yes - Domino has it - economic profit includes OC, accounting profit does not. Think to the problem where the woman took her money out of savings to start a business and ended up with -$3000 or a -3% loss. Economic profit took into account the potential loss of her interest on the money in savings.

Gina said...

Hi, I was just letting you know I looked and looked for two comments from the week of Feb.19-26 and I believe you were right on me only having one. I found it on Ellen's Valentine's post. Sorry about that.