Economics Graphs-AI-powered economic graph generator

Example

Visualizing the impact of a government-imposed price ceiling in a market, showing how supply and demand curves intersect to determine market equilibrium.

Scenario

An instructor teaching introductory economics uses the tool to demonstrate the effects of price controls on housing markets. The graph shows how the imposed ceiling creates a shortage, with clear labels for the equilibrium price (p^1) and quantity (q^1).

Example

Plotting a firm’s Marginal Cost (MC), Average Cost (AC), and Average Variable Cost (AVC) to demonstrate cost minimization strategies.

Scenario

In a microeconomics course focused on firm behavior, an instructor uses a graph to depict the short-run cost curves for a competitive firm. The tool highlights the point where the MC curve intersects the AC curve at its minimum, which represents the firm's most efficient production level.

Example

Showing a monopolist's demand curve alongside marginal cost (MC) and marginal revenue (MR) curves to explain profit maximization.

Scenario

A professor teaching market structures uses the tool to visualize how a monopolist maximizes profits by setting quantity where MR equals MC and prices off the demand curve. The graph includes labeled points and dotted lines to show the profit-maximizing price and quantity.

Example

Illustrating the intersection of a firm’s cost curves with the market price, showing long-run equilibrium in a perfectly competitive market.

Scenario

In a lecture on perfect competition, an instructor uses this tool to show how individual firms in the long run earn zero economic profit, with price equal to both marginal and average costs at the minimum point of the AC curve.