Graph of a Perfectly Competitive Market

Interactive graph
IE code:
EC2-109-I-M
Language:   English
also available in Spanish
Format:  
Multimedia
Est. dedication time:
45 minutes
Academic Area:
Type of publication:
Technical Note
Graph of a Perfectly Competitive Market

Description

This interactive tool explains the adjustment in short and long term of the market and the enterprise under the theory of perfect competition. It allows for the interaction of both dimensions and to see the equilibrium process in terms of profits losses prices and exchanged quantities.

The documentation includes graphs with explanations of the shifts as well as exercises with feedback.

Author's comments

This multimedia material forms part of a series of interactive graphs which have been designed to be used together in introductory economic courses. Each one of these graphs builds on the concepts taught in the previous ones and is an accumulative learning process. Without doubt the key to success of these materials is the fact that both professors and students alike find them incredibly simple.