Problem is the link does not work, Andy!
Tim Mason
Head of Economics & Business Studies
King Edward's School
Edgbaston Park Road
Birmingham B15 2UA
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Direct line: 0121-415 6035
Fax: 0121-415 4327
Mobile: 07736 703828
-----Original Message-----
From: Economics, business, and related subjects
[mailto:[log in to unmask]]On Behalf Of AK Ashwin
Sent: 11 October 2004 08:06
To: [log in to unmask]
Subject: Re: Plotting marginal values in Excel
On a related note, if you are introducing diminishing returns to a group of
students, the 'tennis ball' game is an excellent way to get students
understanding the concept and to build on this understanding to develop
more sophisticated relationships.
See:
http://www.bized.ac.uk/educators/16-19/economics/firms/activity/dimreturns.
htm
Simple to set up and very effective.
Andrew
--On 09 October 2004 10:16 +0100 Richard Young <[log in to unmask]>
wrote:
>
>
> Thanks to the list I can now plot demand & supply curves in Excel -- not
> bad of a Head of ICT J
>
>
>
> 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
>
> Preferred private email address: [log in to unmask]
>
>
----------------------
Andrew Ashwin,
Content Developer
Biz/ed
Institute of Learning and Research Technology
[log in to unmask]
http://www.bized.ac.uk
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