About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
The stand up economist, has a post to Paul Krugman's humorous article on the Theory of Interstellar Trade. The Cartoon Introduction of Economics, by Grady Klein and Yoram Bauman is superb. It covers microeconomics. Because of this book, I learned easier ways to teach hard concepts such as marginal decision making. My favorite part of the book was auctions.
A link to a quick lesson on how to show marginal cost is here.
Suppose a firm faces a demand curve shaped by the following formula: Q = AP^-1. This curve would be unit elastic and so the total revenue at every point would be the same. This is a downward sloping curve that is convex to the origin. Since the firm can't compete on price, the firm is essentially a price taker. What market structure does this firm operate in?
My answer is that this firm must be an exception to our economic theory. So it's an anomaly. Since the firm will probably use non-price competition, I suggest that the firm is monocomp.
If you are looking to use interactive graphs in your teaching or learning of economics, you might be interested in this site. A thanks goes to John LeFeber of the Council for Economic Education.
This document will settle any doubt you or your students have about find the terms of trade.
Where do the components of an iPod come from? This brilliant article explains.
This paper discusses the merits or AP instruction. I disagree.