I'm in Econ 201 right now and I'm trying to find a resource that lets you see how a change effects the other curves in real time. and possibly explanations and formulas of how to get that curve.... I'm studying the monopoly's short and long run curves, which includes the MR curve, an AVC curve, a ATC curve, and an MC curve. ***Is there a resource that lets me see how certain changes effect the other graphs? Better yet, a resource that allows YOU to click and drag the curves? and the most important thing to understand... REAL WORLD REASONS THESE GRAPHS SHIFT OR MOVE?*** for ex. A storm is a supply shifter because it destroys crops. But Changes in technology shifts it the other way. Obviously, I understand the supply and demand curves, I'm looking for that kind of website that explains the ideas I'm learning now in a more visual way. Also, I'm having a hard time remembering all the formulas like, how to calculate Economic profit and accounting profit. For example, Econ Profit = TR - TC, but TC is actually (explicit costs+implicit costs); then you have to understand perfectly that explicit costs are things you've paid in money and implicit are opportunity costs that didn't cost you actual money (like using the entrepreneur's time). This is an example, I understand but I have a hard time remembering everything up to Chapter 12 (monopoly) in "Microeconomics by: Parkin, 8th edition." So all in all, there's just so much to memorize and I think if I could see it this way, I'd never forget. Thanks for any resources.
March 31st 2009 Posted to
QanA 
