Lesson 2: Cost Curves and Long-Run Production
Duration of Days: 3
Lesson Objective
Students will calculate, graph, and interpret short-run and long-run cost concepts, including fixed, variable, total, average, marginal costs, economies of scale, and diseconomies of scale.
How do firms measure the cost of producing more? What do cost curves reveal about firm decisions? How does firm size affect efficiency?
D2.Eco.2.9-12
D2.Eco.4.9-12
CCSS.ELA-LITERACY.RH.11-12.7
CCSS.ELA-LITERACY.WHST.11-12.2
Students work with cost tables and cost curves to analyze how production costs change in the short run and long run. DOK Level 3
Graph templates, visual supports, teacher modeling, chunked calculations, collaborative practice
Cost table, graphing activity, or classwork check