Examples

• Complement and substitute diagrams

  
• Elasticity diagram

  
• Tax impact on equilibrium prices

  
• Impact of subsidies on equilibrium

  
• Positive production externality

  
• Use of indirect taxes to internalise negative production externalities

  
• Competitive labour markets and possible unemployment as a result of an increase in minimum wages

  
• Perfect competition diagrams representing the short (supernormal profits) and long run

  
• Trade unions negotiating high wages resulting in a fall in employment. Also a diagram representing the increasing in NLW (national living wage) in a labour market.

  
• Supernormal profit in a monopoly

  
• Short run and long run monopolistic competition. Short run supernormal profits promotes entry into the market.

  
• Natural monopoly diagram

  
• Extension and contraction along the demand curve

  
• Price elastic supply curve

  
• Price inelastic supply curve

  
• Consumer surplus

  
• Surpluses and welfares

  
• Excess demand as a result of government intervention by adjusting the maximum price

  
• Excess demand at a price below equilibrium diagram

  
• Negative consumption externality diagram

  
• Positive consumption externality diagram

  
• Negative production externality diagram

  
• Positive consumption externality diagram

  
• SR supernormal profits within a perfect competition diagram

  
• Kinked demand curve within an oligopolistic market

  
• Price discrimination diagrams