Competitive Model

Requires a Wolfram Notebook System

Interact on desktop, mobile and cloud with the free Wolfram CDF Player or other Wolfram Language products.

Requires a Wolfram Notebook System

Edit on desktop, mobile and cloud with any Wolfram Language product.

This Demonstration graphs the standard perfect competition model and displays the numerical price, cost per unit, optimal quantity, and total profit or loss. You can adjust the price, fixed cost, and marginal cost.

Contributed by: David Youngberg (March 2011)
Based on a program by: Fiona Maclachlan
Open content licensed under CC BY-NC-SA


Snapshots


Details

The average total cost is and the marginal cost is (set to the price for optimal quantity ). Price and the cost per unit (based on average total cost) are displayed numerically along the axis.

Total profit or loss—price per unit minus cost per unit times quantity sold—appears as a green (profit) or red (loss) rectangle. Its value is shown on the right.



Feedback (field required)
Email (field required) Name
Occupation Organization
Note: Your message & contact information may be shared with the author of any specific Demonstration for which you give feedback.
Send