A reminder that the review session for the final will be Wednesday, December 16th at 5:30pm in 1 Upham. (and of course, the final is Thurday morning at (ugh) 7:30 in 144 Benton). Also, for those in Platt's section who did not get a copy of the key for Chapter 9 Review Questions, they are now outside his office in the yellow envelope.
The gradebook is up and running just fine! Remember to use your last name (ALL LOWER CASE) for your ID and your last four Social Security numbers for your password. There are a couple people whose SS# I don't have, for them the password is also your last name for now - see me and I will set you up right. Also, your quiz grade is 1/3 of your final quiz grade, since we have only had one of the three quizzes (so don't panic!) Thanks for the patience!
Here is Questions 1, 2, and 5 from Review Questions (Chapter 7):
1. Answer the following questions about cost curves:
a. Why must the marginal cost curve always cut the average variable cost curve and the average total cost curve at the lowest point of those curves?
b. What is the relationship between the law of diminishing marginal returns and the curvature of the average variable cost curve?
c. What is the relationship between the law of diminishing marginal returns and the slope of the marginal cost curve?2. The Preservation Embalming Company's cost data have been partially entered in the table below. Following the sudden and unexpected death of the company's accountant, you are called to fill in the missing entries.
Bodies Embalmed Total Cost Fixed Cost Variable Cost ATC AVC AFC MC 0
24 --- --- --- --- 16 2 50 3 108 34 4 52 5 39.2 6 47
5. Determine whether each of the following statements is True or False, and explain your answers.
a. If the average cost is greater than the marginal cost, then the average total cost must be increasing.
b. If average cost is rising, marginal cost must be rising.
The video lecture that was broadcast last night at 7:30 will be rebroadcast on Monday night. Don't forget that the review questions and the worksheets shoudl be completed by Tuesday.
For those who are not hooked up to the campus cable system, you will be able to view the lectures from room 215 Laws during the lecture's broadcast time (7:30 the night before), with the exception of October 2nd, where the viewing will be in Room 1 Laws. We have reserved these rooms during these times, but you will need to turn on the TV to channel 25.
Samantha's Supplemental Instruction sessions will be Tuesday from 5 to 6pm in 298 Upham and on Thursdays from 6 to 7pm in Room 316 Upham. Sam will have new problems to practice with and will go over old problems. All communication with her is confidential and your instructors will have no knowledge of the attendance.
It looks like Applied Technologies is unable to make copies of the videotapes. We strongly encourage you to watch them over the campus cable station at 7:30. If you cannot, then the next best thing is to check them out and watch them. If you MUST make copies, you can make copies yourself in Room 204 Laws, but there are limited machines for this. Sorry for the misunderstanding.
Welcome to the Economics Virtual Classroom, everybody! As items are updated or added to the web site throughout the semester, I'll post a note here to let you know what has changed.
I hope you enjoy this web site and find it useful. Please let us know if you have any questions, comments, or suggestions.
--Professors Lage & Platt