AP Microeconomics: Graphs!

Production Possibilities; U is inefficient

Production Possibilities; x is impossible

Production Possibilities; right shift indicates economic growth

market equilibrium

consumer surplus

producer surplus

increased demand = higher price and quantity

decreased demand = lower price and quantity

increased supply = lower $ and higher #

decreased supply = higher $ and lower #

price floor; causes a surplus

price ceiling; causes a shortage

perfect competition at equilibrium

perfect competition making a profit

perfect competition making a loss

perfect competition in a "shut down" position

monopoly making a profit

monopoly making a loss

monopolistic competition at equilibrium

supply and demand for labor

perfectly competitive demand for labor

monopsonistic competition for labor

a negative externality causes too many to be produced at too low a price

a positive externality causes too few to be produced at too low a price

the lorenz curve; measures income inequality