Animated and verbal exploration of simple markets with price floors, price ceilings and non-price rationing. Demand elasticity including perfectly inelastic and perfectly elastic curves as well as constant elasticity demand curves is covered.
This app contains 12 animated graphs with voice over that plays as graphs are drawn. Users can jump ahead to which ever graph or portion of graph is of interest.
Valuable for any undergrad micro economics.
Developed in conjunction with Professor Thomas Nechyba for the Micro Economics curriculum, Department of Economics, Duke University, Durham, NC