Students will calculate measurements related to revenue and cost, and then calculate profit. They will then exam profit to investigate which measurements give information on the quantity that maximizes profit for a company.
Before the Activity
See the attached Activity PDF file for detailed instructions for this activity.
Print the appropriate pages from the Activity for your class.
Install the CellSheet(tm) App on the students' graphing calculators following the attached instructions.
Make sure each student has a TI-83 Plus or TI-84 Plus graphing calculator loaded with the CellSheet(tm) Application. Make copies of the Student Work Sheet, Investigating Maximizing Profit, so that each pair of students has a copy.
During the Activity
Distribute the appropriate pages from the Activity to your class
Follow the procedures outlined in the Activity
Explore the revenues and costs in the production of goods.
Analyze graphs and data related to revenue, cost and profit.
After the Activity
Lead a class discussion that includes the questions from the worksheet. Summarize with the class the key ideas of when profit is at a maximum and what measurements give us that information.