Jim Whitney Economics 102
 Workshop: Firm Theory: The geometry of revenue, costs and profits
Pre-lab Checklist

Name: ______________________________

Procedure:
    1. Go to any campus PC which runs Windows on the campus network (such as the PCs in the basement of the library.)
    2. From the Program Manager screen, click on the "Economics" icon.
    3. From the economics options, click on the "Econ102" icon.
    4. From the list of options, select option 3, "Firm theory: the geometry of reveue, costs and profits" and click "Continue" to start the program.
    5. Notice the list of options across the top of the screen. They are the main options you use to operate the program.

Checklist
    1. Click "Setup"--note that the panel you see allows you to determine how your diagram appears. The initial settings are often fine. Note though that this is also the option which allows you to switch between "Large (1000s)" and "Small (ones)"  situations. For now, click the "Small (ones)" option at the bottom of the Setup panel. Then click "Close setup."

    2. Click the "Equations" option at the top of the screen. You should now see two equations:
        What label goes with the top equation?     ________________________
        What label goes with the bottom equation?  ________________________
You can change these equations whenever you want. The initial settings usually work well for one of the exercises done in class.

    3. Click the "Draw" option at the top of the screen. In the row of small check boxes called "Plot/record," click the boxes under TR and MR. Then click either the top or the bottom diagram near the quantity values (Q-values) of 1, then 2, then 3.
        What gets plotted in the top diagram ?    ________________________
        What gets plotted in the bottom diagram?  ________________________

    4. In the Draw Panel row called "Draw," Click the P label, then the TR label and then the MR label.
        What happens?  ________________________
        Look across the labels in the "Draw" row.
        In general, what do the blue labels apply to?  ________________________
        In general what do the red labels apply to?    ________________________

    5. Click the "Clear" option at the top of the screen, then the "Check boxes" option. Next, click the "Restart" option at the top of the screen. In the "Draw" row, click the label P. Then, in the "Show" row, click the box under TR. Finally, click the diagram near Q=3 or Q=4.
        What figure do you see?  ________________________
        What is the size of the figure's area?        ________________________
        What information does the area convey?  ________________________

That's all that's required. Feel free to explore further. The more familiar you are with how the program operates, the better and faster you'll be able to work during the workshop.