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Micro theory :: Long-run Cost: The envelope theorem

Micro theory :: Long-run Cost: The envelope theorem

By means of four spin buttons, the user sets the parameters for a parabola and the parabolic path of its vertex so that the implied family of parabolas generate an envelope that is also a parabola. An accompanying graph automatically updates. Another spin button gives the user some control over the spacing of five parabolas in the family. A sixth spin button allows the user to slide the "base" parabola along the envelope. Click the image above left to see a screen capture of the interface. Jon Peltier of Peltier Technical Services, Inc., contributed materially to this module.


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