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Thanks to the list I can now plot demand & supply curves in Excel - not bad
of a Head of ICT :-)

 

Ah, but what to do about marginal values eg marginal product and marginal
cost

 

With pen and paper you plot half way between what is and what was eg plot
the marginal product of the 5th worker half way between 4 and 5 on the x
axis where labour is plotted

 

I attach a spreadsheet where I have managed to plot AP & MP but MP does not
intersect AP at its highest point because Excel is plotting marginal product
at 5 - not 4.5

 

HELP PLEASE - can you get Excel to plot marginal values half way?

 

You may ask why am I bothering - at AS level

 

1. I do like my students to use ICT and nothing like a context 

 

2. I have an able class

 

3. I find just drawing curves eg a set short run average cost curves to
illustrate economies of scale builds awareness but not understanding. Why is
the MC curve shaped like an umbrella?

 

Actually getting into the nitty gritty of diminishing returns gives students
the necessary background to understand the short run, diminishing returns
for a constant outlay on wages. Never expect to answer a question on
deriving curves.  But at least they can get their heads round why so why
cost curves are the shape they are.

 

Getting student to work through worked examples is one approach. I am sure
there are others.

 

Regards

 

Richard Young

31 Newland Mill

Witney OX28 3HH

 

01993 200110

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