AP MICROECONOMICS UNIT GRAPHS

UNIT #3: THEORY OF THE FIRM

Requirements of Unit Graphs:

  1. Each graph that is listed on the sheet for that unit must be graphed.
  2. Each graph should have a title above it that clearly identifies what it is. Ex.: Production Possibilities: Increasing Opportunity Cost.
  3. Each graph must have the x and y axis clearly labeled.
  4. Each axis must have numerical values.
  5. Below each graph, there should be a short description of what this graph is used to illustrate (try to limit to 1-3 sentences).
  6. The graphs must be hand-drawn, not computer generated.
  7. Graph paper is preferred but if you don’t want to buy it you can make your own by inserting tables (probably 10 rows X 10 columns unless you want to make it bigger) into Word documents then printing them out. You are allowed to make your graph paper on the computer but the graphs themselves must be hand-drawn and labeled.
  8. Graphs should be neatly drawn and labeled, not thrown together at the last minute.
  9. Due dates will be announced as the appropriate units are completed.

UNIT 3 GRAPHS

  1. Total Product Graph
  2. Marginal Product and Average Product graph-on same graph and the numbers should correspond to the total product graph from #1
  3. Total Cost Graphs (TFC, TVC, TC)-all on the same graph
  4. Average and Marginal Cost Graphs (AFC, AVC, ATC, MC)-on same graph
  5. Perfect Competition Graphs (9)
  6. TR/TC/TVC curves for a firm with
  7. Profit
  8. Breaking even
  9. Loss but still producing
  10. Loss and should shut down
  11. MR=D=AR=P, ATC, AVC, MC curves for a firm with
  12. Profit
  13. Breaking even
  14. Loss but still producing
  15. Loss and should shut down
  16. side-by-side graphs of the firm and the market/industry in long-run equilibrium with the long-run supply curve on the market/industry graph
  17. Monopoly graphs (4)
  18. Pure monopoly with a profit, also shade in the deadweight loss
  19. Pure monopoly with a loss, also shade in the deadweight loss
  20. Natural monopoly: label price and output for no regulation, fair-return pricing, and marginal cost pricing
  21. Monopoly with perfect price discrimination

(MORE ON THE BACK)

  1. Monopolistic Competition Graphs (4)
  2. Monopolistic competition firm with a profit
  3. Monopolistic competition firm with a loss
  4. Long-run equilibrium for monopolistic competition
  5. Side-by-side graphs comparing the efficiency of monopolistic competition to perfect competition: label the mark-up and excess capacity on the monopolistic competition graph
  6. Oligopoly Graphs/Charts (3)
  7. Two game theory payoff matrixes with the dominant strategy labeled: make them up yourself, do not simply copy one that we’ve already done in the notes
  8. Kinked demand curve of an oligopoly with D, MR, MC, and ATC