SlideShare a Scribd company logo
$
Profit Loss Breakeven
$ $
Pure Competition
Q Q Q
MC
ATC
D=AR=MR
P
QD
The Firm The Firm The Firm
MC
ATC
D=AR=MR
P
QD
ATC
MC
ATC
D=AR=MRP & ATC
QD
ATC
Area of
economic
profit
Area of
economic
loss Normal
profit
$
Profit Loss
Breakeven
$ $
Pure Monopoly Competition
Q Q Q
MC
ATC
D=AR
P
QD
The Firm The Firm The Firm
MC
ATC
D=AR
P
QD
ATC
MC
ATC
D=AR
P & ATC
QD
ATC
MR
Area of
economic
profit
Area of
economic
loss
Normal
profit
MR
MR
$
Profit Loss Breakeven
$ $
Monopolistic Competition
Q Q Q
MC
ATC
D=AR
P
QD
The Firm The Firm The Firm
MC
ATC
D=AR
P
QD
ATC
MC
ATC
D=AR
P & ATC
QD
ATC
MR
Area of
economic
profit
Area of
economic
loss
Normal
profit
MR MR
$
Profit
Loss Breakeven
$ $
Oligopoly Competition
Q Q Q
MC
ATC
D=AR
P
QD
The Firm The Firm The Firm
MC
ATC
D=AR
P
QD
ATC MC
ATC
D=AR
P & ATC
QD
ATC
MR
Area of
economic
profit
Area of
economic
loss
Normal
profit
MR MR
Long run Average total cost Curve
Cost
Output
Economies
of scale
Constant returns
to scale
Diseconomies
of scale
McDonald’s: M
New Jersey Natural Gas: N
American Airlines: A
Farmer Jones: J
M
N
A
J
Minimum efficient scale
Alzheimer's Association. “2020 Alzheimer’s Disease Facts and
Figures.” Alzheimer’s & Dementia, vol. 16, no. 3, Mar. 2020,
pp. 391–460, alz-
journals.onlinelibrary.wiley.com/doi/full/10.1002/alz.12068,
10.1002/alz.12068.
The article talks about the impacts of Alzheimer's disease on
public health. This includes incidence and prevalence, use and
care costs, morbidity, and mortality, and overall effects on
society and caretakers. Moreover, the paper discusses the
challenges to be faced in the future in relation to meeting the
care demands of the growing population.
Bazan-Salazar, Emilia C. Alzheimer’s Activities That Stimulate
the Mind. McGraw-Hill Education,2005.https://web-s-
ebscohost-
com.lrcezproxy.clcillinois.edu:2443/ehost/ebookviewer/
ebook/bm[email protected]redis& vid=0&format=EB&rid=1
The author provides excellent information on activities that
stimulate the minds of individuals that have Alzheimers.
Activities that are medically proven to sustain the cognitive
abilities of Alzheimer’s or dementia individuals. A few activites
such as easygoing exercices, gardening, arts and carfts are a few
examples. This book can be used to provide more background
information to help others acknowledge how important it is to
help people with Alzheimer’s or dementia feel the excitement of
being able to performe their own actvites of daily living.
1
Microeconomic 106 Project
Dimensions Exemplary Competent Unacceptable
Classification of
Company
▪ Market Model chosen reflected
characteristics of the company
chosen.
▪ Narrative format of characteristics
clearly defined.
▪ Industry problem well-thought out.
▪ Correct Market Model
▪ selected to represent the company.
▪ Explanation of Market Model
complete.
▪ Industry problem short and not
well-thought out
▪ Incorrect Market Model selected to
represent the company.
▪ Explanation of Market Model
incomplete.
▪ Industry problem not stated.
Demand Curve
▪ Axes and Demand Curve correctly
labeled.
▪ Demand curve had the correct
shape.
▪ Curve shifted in the correct
direction, or was clearly indicated, if
the curve did not shift (movement
along curve).
▪ New Demand Curve or point along
curve correctly labeled.
▪ Explanations clearly given for the
Demand situation.
▪ Axes not labeled correctly.
▪ Demand Curve not correctly labeled.
▪ Demand curve does not have the
correct shape.
▪ Curves did not shift in the correct
direction or it was not indicated, if
the curve did not shift.
▪ New Demand Curve or point along
curve not correctly labeled.
▪ Description of graph very short and
incomplete.
▪ It was not clear why the curve had
shifted.
▪ No labels.
▪ No Demand Curve.
Supply Curve ▪ Axes and Supply Curve correctly
labeled.
▪ All abbreviations clearly labeled.
▪ The curve had the correct shape.
▪ The curve shifted in the correct
direction.
▪ Axes not labeled correctly.
▪ Supply Curve not correctly labeled.
▪ The Supply Curve does not have the
correct shape.
▪ The curves did not shift in the correct
direction or it was not indicated, if
the curve did not shift.
▪ No labels.
▪ No Supply Curve.
Microeconomic 106 Project
▪ It was clearly indicated, if the curve
did not shift.
▪ Explanations were clearly given for
the Supply situation.
▪ New Supply Curve or point along
curve not correctly labeled.
▪ Description of graph very short and
incomplete.
▪ It was not clear why the curve had
shifted.
Supply and Demand
Curves Together
▪ All axes, Demand and Supply Curves
correctly labeled.
▪ Old and new equilibrium prices and
quantities clearly labeled.
▪ Curves had correct shapes.
▪ Curves shifted in the correct directions.
▪ It was clearly indicated, if the curves
did not shift.
▪ Explanations clearly given for Supply
and Demand situations.
▪ Type of good clearly stated and
defined.
▪ Relationship to a different good
clearly stated.
▪ Either the Supply Curve or Demand
Curve did not have the correct shape.
▪ Curves did not shift in the correct
direction.
▪ It was not indicated, if the curves did
not shift.
▪ Old and new equilibrium prices and
quantities not labeled correctly.
▪ Type of good stated not correct.
▪ Relationship to a different good is
not correct.
▪ Either Supply Curve or Demand Curve
missing.
▪ Old and new equilibrium prices not
labeled.
▪ Type of good not stated.
▪ Relationship to a different good not
stated.
Short Run
Profit & Loss
▪ Four appropriate curves drawn.
▪ Curves had correct shapes.
▪ Curves indicated the appropriate
profit/loss position of the firm.
▪ Explanation of profit/loss position in
short-run correct and thorough.
▪ Cost/productivity issues addressed.
▪ Four appropriate curves not drawn.
▪ Curves did not have correct shapes.
▪ Curves did not indicate an appropriate
profit/loss position of the firm.
▪ Explanation of profit/loss position in
short-run incorrect.
▪ Cost/productivity issues not
addressed.
▪ No short run profit/loss curves.
Microeconomic 106 Project
Long Run Profit &
Loss
▪ Four appropriate curves were drawn.
▪ Curves had the correct shapes.
▪ Curves indicated the appropriate
profit/loss position of the firm.
▪ Explanation of profit/loss position in
the long-run was correct and thorough.
▪ Cost/productivity issues were
addressed.
▪ Four appropriate curves were not
drawn.
▪ Curves did not have the correct
shapes.
▪ Curves did not indicate the appropriate
profit/loss position of the firm.
▪ Explanation of profit/loss position in
the long-run was incorrect.
▪ Cost/productivity issues were not
addressed.
▪ No long run profit/ loss curves.
LRATC ▪ LRATC Curve correctly drawn (shape)
and correctly labeled.
▪ Economies and Diseconomies of Scale
clearly indicated.
▪ Company’s position marked with an
“X” on LRATC.
▪ Explanation for the position (“X”)
was correct and thorough.
▪ The LRATC Curve is incorrectly drawn
(shape) and incorrectly labeled.
▪ Economies and Diseconomies of Scale
not drawn correctly.
▪ Company’s position incorrectly
marked on LRATC.
▪ Explanation of the position (“X”) was
incorrect.
▪ No LRATC Curve.
▪ Economies and Diseconomies of Scale
were not drawn.
Conclusion ▪ Recapitulation of findings clearly
stated.
▪
Solution
s to economic problems are
well-thought out.
▪ Predictions of the company's future
are well-supported.
▪ Recapitulation of findings vague.
▪

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$Profit Loss Breakeven$ $Pure CompetitionQ Q Q

  • 1. $ Profit Loss Breakeven $ $ Pure Competition Q Q Q MC ATC D=AR=MR P QD The Firm The Firm The Firm MC ATC D=AR=MR P QD ATC MC
  • 2. ATC D=AR=MRP & ATC QD ATC Area of economic profit Area of economic loss Normal profit $ Profit Loss Breakeven $ $ Pure Monopoly Competition Q Q Q MC ATC
  • 3. D=AR P QD The Firm The Firm The Firm MC ATC D=AR P QD ATC MC ATC D=AR P & ATC QD ATC MR Area of economic
  • 4. profit Area of economic loss Normal profit MR MR $ Profit Loss Breakeven $ $ Monopolistic Competition Q Q Q MC ATC D=AR P QD The Firm The Firm The Firm
  • 5. MC ATC D=AR P QD ATC MC ATC D=AR P & ATC QD ATC MR Area of economic profit Area of economic loss Normal
  • 6. profit MR MR $ Profit Loss Breakeven $ $ Oligopoly Competition Q Q Q MC ATC D=AR P QD The Firm The Firm The Firm MC ATC D=AR P
  • 7. QD ATC MC ATC D=AR P & ATC QD ATC MR Area of economic profit Area of economic loss Normal profit MR MR Long run Average total cost Curve Cost
  • 8. Output Economies of scale Constant returns to scale Diseconomies of scale McDonald’s: M New Jersey Natural Gas: N American Airlines: A Farmer Jones: J M N A J Minimum efficient scale Alzheimer's Association. “2020 Alzheimer’s Disease Facts and Figures.” Alzheimer’s & Dementia, vol. 16, no. 3, Mar. 2020, pp. 391–460, alz- journals.onlinelibrary.wiley.com/doi/full/10.1002/alz.12068, 10.1002/alz.12068. The article talks about the impacts of Alzheimer's disease on public health. This includes incidence and prevalence, use and care costs, morbidity, and mortality, and overall effects on
  • 9. society and caretakers. Moreover, the paper discusses the challenges to be faced in the future in relation to meeting the care demands of the growing population. Bazan-Salazar, Emilia C. Alzheimer’s Activities That Stimulate the Mind. McGraw-Hill Education,2005.https://web-s- ebscohost- com.lrcezproxy.clcillinois.edu:2443/ehost/ebookviewer/ ebook/bm[email protected]redis& vid=0&format=EB&rid=1 The author provides excellent information on activities that stimulate the minds of individuals that have Alzheimers. Activities that are medically proven to sustain the cognitive abilities of Alzheimer’s or dementia individuals. A few activites such as easygoing exercices, gardening, arts and carfts are a few examples. This book can be used to provide more background information to help others acknowledge how important it is to help people with Alzheimer’s or dementia feel the excitement of being able to performe their own actvites of daily living. 1 Microeconomic 106 Project Dimensions Exemplary Competent Unacceptable Classification of Company ▪ Market Model chosen reflected characteristics of the company chosen. ▪ Narrative format of characteristics clearly defined.
  • 10. ▪ Industry problem well-thought out. ▪ Correct Market Model ▪ selected to represent the company. ▪ Explanation of Market Model complete. ▪ Industry problem short and not well-thought out ▪ Incorrect Market Model selected to represent the company. ▪ Explanation of Market Model incomplete. ▪ Industry problem not stated. Demand Curve ▪ Axes and Demand Curve correctly labeled. ▪ Demand curve had the correct shape. ▪ Curve shifted in the correct direction, or was clearly indicated, if the curve did not shift (movement along curve). ▪ New Demand Curve or point along curve correctly labeled.
  • 11. ▪ Explanations clearly given for the Demand situation. ▪ Axes not labeled correctly. ▪ Demand Curve not correctly labeled. ▪ Demand curve does not have the correct shape. ▪ Curves did not shift in the correct direction or it was not indicated, if the curve did not shift. ▪ New Demand Curve or point along curve not correctly labeled. ▪ Description of graph very short and incomplete. ▪ It was not clear why the curve had shifted. ▪ No labels. ▪ No Demand Curve. Supply Curve ▪ Axes and Supply Curve correctly labeled. ▪ All abbreviations clearly labeled. ▪ The curve had the correct shape. ▪ The curve shifted in the correct direction.
  • 12. ▪ Axes not labeled correctly. ▪ Supply Curve not correctly labeled. ▪ The Supply Curve does not have the correct shape. ▪ The curves did not shift in the correct direction or it was not indicated, if the curve did not shift. ▪ No labels. ▪ No Supply Curve. Microeconomic 106 Project ▪ It was clearly indicated, if the curve did not shift. ▪ Explanations were clearly given for the Supply situation. ▪ New Supply Curve or point along curve not correctly labeled. ▪ Description of graph very short and incomplete. ▪ It was not clear why the curve had shifted. Supply and Demand
  • 13. Curves Together ▪ All axes, Demand and Supply Curves correctly labeled. ▪ Old and new equilibrium prices and quantities clearly labeled. ▪ Curves had correct shapes. ▪ Curves shifted in the correct directions. ▪ It was clearly indicated, if the curves did not shift. ▪ Explanations clearly given for Supply and Demand situations. ▪ Type of good clearly stated and defined. ▪ Relationship to a different good clearly stated. ▪ Either the Supply Curve or Demand Curve did not have the correct shape. ▪ Curves did not shift in the correct direction. ▪ It was not indicated, if the curves did not shift. ▪ Old and new equilibrium prices and quantities not labeled correctly.
  • 14. ▪ Type of good stated not correct. ▪ Relationship to a different good is not correct. ▪ Either Supply Curve or Demand Curve missing. ▪ Old and new equilibrium prices not labeled. ▪ Type of good not stated. ▪ Relationship to a different good not stated. Short Run Profit & Loss ▪ Four appropriate curves drawn. ▪ Curves had correct shapes. ▪ Curves indicated the appropriate profit/loss position of the firm. ▪ Explanation of profit/loss position in short-run correct and thorough. ▪ Cost/productivity issues addressed. ▪ Four appropriate curves not drawn. ▪ Curves did not have correct shapes. ▪ Curves did not indicate an appropriate
  • 15. profit/loss position of the firm. ▪ Explanation of profit/loss position in short-run incorrect. ▪ Cost/productivity issues not addressed. ▪ No short run profit/loss curves. Microeconomic 106 Project Long Run Profit & Loss ▪ Four appropriate curves were drawn. ▪ Curves had the correct shapes. ▪ Curves indicated the appropriate profit/loss position of the firm. ▪ Explanation of profit/loss position in the long-run was correct and thorough. ▪ Cost/productivity issues were addressed. ▪ Four appropriate curves were not drawn. ▪ Curves did not have the correct shapes.
  • 16. ▪ Curves did not indicate the appropriate profit/loss position of the firm. ▪ Explanation of profit/loss position in the long-run was incorrect. ▪ Cost/productivity issues were not addressed. ▪ No long run profit/ loss curves. LRATC ▪ LRATC Curve correctly drawn (shape) and correctly labeled. ▪ Economies and Diseconomies of Scale clearly indicated. ▪ Company’s position marked with an “X” on LRATC. ▪ Explanation for the position (“X”) was correct and thorough. ▪ The LRATC Curve is incorrectly drawn (shape) and incorrectly labeled. ▪ Economies and Diseconomies of Scale not drawn correctly. ▪ Company’s position incorrectly marked on LRATC. ▪ Explanation of the position (“X”) was incorrect. ▪ No LRATC Curve.
  • 17. ▪ Economies and Diseconomies of Scale were not drawn. Conclusion ▪ Recapitulation of findings clearly stated. ▪ Solution s to economic problems are well-thought out. ▪ Predictions of the company's future are well-supported. ▪ Recapitulation of findings vague. ▪