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Peer reviewedCheung, Stephen L. – Journal of Economic Education, 2005
The author describes a classroom game demonstrating the process of adjustment to long-run equilibrium in a market consisting of price-taking firms. This game unites and extends key insights from several simpler games in a framework more consistent with the standard textbook model of a competitive industry. Because firms have increasing marginal…
Descriptors: Microeconomics, Economics Education, Teaching Methods, Class Activities
