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- W2012152844 abstract "When a single-price-searching firm is faced with a downward-sloping demand curve, the geometry of profit maximization is more complicated than when a price-taking firm faces a horizontal demand curve. Although static transparencies can help, many graphic illustrations require synchronization of changes between related diagrams. For example, as the single-price seller lowers prices along the demand curve in one diagram, total revenue first rises to a peak and then falls to zero in another diagram as demand changes from elastic to inelastic. In turn, the slope of the tangent on the total revenue curve generates the marginal revenue value back to the demand curve diagram. Flash animations can go through these synchronized illustrations step by step with much greater transparency and mathematical accuracy. These Flash animations comprise five modules, each consisting of multiple steps with unique IDs. Navigation buttons allow users to play in sequence or skip backward or forward to a specific step. Each step starts with a brief balloon note, and the animation follows at the click of a button. Such flexibility makes the animations suitable for classroom use and student review after class." @default.
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- W2012152844 date "2006-04-01" @default.
- W2012152844 modified "2023-09-26" @default.
- W2012152844 title "Profit Maximization (Short Run) for Single-Price Searchers—Flash Animation" @default.
- W2012152844 doi "https://doi.org/10.3200/jece.37.2.248-248" @default.
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