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Market Magic is a web-based market simulation designed to introduce students to key concepts in managerial economics. The laws
of supply and demand are demonstrated when students act as buyers and sellers in a theoretical market with parameters defined
by the faculty member. In their assigned roles as buyers or sellers, the students must work with the reservation prices set for them. For sellers, this price is the minimum they are willing to accept for the product; for buyers, this price is the maximum they are willing to pay. As the market progresses through a number of rounds and the price converges toward an equilibrium point, the "invisible hand" of the market reveals itself. If this convergence is not obvious after the students complete the simulation, the faculty member can process and display the data captured from the simulation to better demonstrate the underlying economic principles