| Lesson Plan |
| Grade: |
Date: 05/03/2026 |
| Subject: Economics |
| Lesson Topic: Revenue |
Learning Objective/s:
- Define total, average, and marginal revenue and state their formulas.
- Distinguish revenue curves in perfect competition versus monopoly.
- Apply the short‑run rule MR ≥ MC to decide whether a firm should produce.
- Calculate profit from given revenue and cost data and interpret the result.
- Explain how revenue relates to long‑run equilibrium and economic profit.
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Materials Needed:
- Projector or interactive whiteboard
- Slide deck covering revenue concepts
- Worksheet with revenue calculations
- Graph paper and coloured pens for drawing curves
- Calculator or spreadsheet
- Sample monopoly diagram handout
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Introduction:
Begin with a quick poll asking how many think a firm’s success is measured solely by sales. Connect this to prior knowledge of cost concepts from earlier lessons and set the success criteria: students will define key revenue terms, sketch relevant curves, and use revenue data to make production decisions.
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Lesson Structure:
- Do‑now (5') – Short quiz on cost terminology to activate prior learning.
- Mini‑lecture (10') – Present definitions and formulas for TR, AR, MR with slides and a simple example.
- Interactive graph activity (12') – In pairs, draw revenue curves for perfect competition and monopoly, highlighting where AR and MR coincide or diverge.
- Guided calculation (10') – Work through the 100‑unit example, completing a worksheet and checking answers together.
- Application discussion (8') – Evaluate a short‑run production decision using the rule MR ≥ MC, explaining reasoning.
- Quick check (5') – Exit ticket: write one key difference between revenue in perfect competition and monopoly.
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Conclusion:
Summarise how revenue measures and curves inform firm decisions in different market structures. Collect exit tickets to gauge understanding, and assign homework to calculate profit for a new data set using the formulas practiced today.
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