Construction order: label axes and units → draw the required curves → label beside curve ends → mark equilibrium coordinates with dotted guides → add shift arrows or identify areas. For flow charts, follow the direction of the economic relationship; do not invent price or quantity axes.
Select the diagram that explains the question. Reproduce the essential labels and explain the mechanism in words. This index points to representative diagrams; paired and alternative cases remain beside them in the chapter.
| Use when explaining | Essential labels and checks | Diagram |
|---|---|---|
| Compare business objectives | MR, MC, AR, AC; Qπ at MR=MC; Qr at MR=0; Qs at higher AR=AC crossing. | p. 16 |
| Link TR, AR and MR | Q; TR peak; MR=0; consistent output across panels. | p. 22 |
| Short-run cost relationships | MC, AC, AVC, AFC; MC through AC/AVC minima; cost and Q axes. | p. 25 |
| Economies and diseconomies of scale | LRAC; falling/rising regions; minimum efficient scale. | p. 29 |
| Output, price and profit | MR=MC gives Q; read P from AR and AC at Q; profit rectangle. | p. 35 |
| Short-run shutdown decision | P/AR/MR, MC, AVC and AC; compare revenue with variable cost at Q. | p. 36 |
| Perfect competition in the long run | Horizontal AR=MR=P; MC; minimum AC; normal profit. | p. 42 |
| Monopolistic competition in the long run | AR tangent to AC; MR=MC; P and Q; excess capacity. | p. 47 |
| Third-degree price discrimination | Aligned panels; common MC; each MR=MC; read each price from its AR. | p. 61 |
| A buyer with wage-setting power | MRP, MLC and S=ALC; Lm below MRP=MLC; wage from S. | p. 64 |
| A minimum wage under monopsony | Original wage/employment; wage floor; effective marginal cost; resulting employment. | p. 82 |
| A minimum wage in a competitive market | Wage and labour; D and S; binding floor; labour demand/supply and excess supply. | p. 98 |