Rates of Change
Source: Council for Economic Education (EconEdLink) | Type: Lesson
This lesson uses a classic video clip to introduce variable and fixed inputs. Students participate in an activity that demonstrates adding additional inputs to a fixed set of inputs that eventually leads to diminishing marginal returns and higher marginal costs of production. A slideshow provides students with economic information and mathematical calculations such as slope. The worksheet portion is a concrete example of the relationship between differing costs using the concept of slopes.
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