4/22/24, 2:48 PM 46 key microeconomics diagrams for A level

Exam superhero Jun 23, 2020 2 min read

46 key microeconomics diagrams for A level

Diagrams are very important for economics exams. Adding a relevant diagram
to your essay will bring a strong support for your argument and will help you
score a maximum of marks. A good grasp of diagrams is also essential for
multiple choice questions.

The golden rule for diagrams is that they must be

✓ Accurate
✓ Big
✓ Clear
✓ Adapted to the question

Here is a list of the key microeconomics diagrams you must be familiar with
before sitting for your A level economics exam (Paper 32 and paper 42).

1. Productive efficiency

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Productive efficiency

2. Productive efficiency and perfect competition

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Productive efficiency and perfect competition

3. Allocative efficiency

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Allocative efficiency

4. Allocative efficiency

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Allocative efficiency

5. Pareto efficiency

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Pareto efficiency diagram

6. Budget line when there is a fall in price B

Budget line when there is a fall in price B

7. Indifference curve
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Indifference curve

7.5 Total utility and marginal utility

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8. An increase in income on indifference curves and budget

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An increase in income on indifference curves and budget lines

9. Total cost curve, total variable cost curve, total fixed cost
curve.

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Total cost curve, total variable cost curve, total fixed cost curve.

9. Average cost curves and marginal cost curves

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Average cost curves and marginal cost curves

10. Isoquant map

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Isoquant map

11. Costs in the short run

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Costs in the short run

12. Costs in the long run

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Costs in the long run

13. Perfectly competitive firm in the short run

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Perfectly competitive firm in the short run

14. Perfectly competitive firm in the long run

Perfectly competitive firm in the long run

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15. Monopolistic competition

Monopolistic competition

16. Monopoly firm in the short run and long run

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Monopoly firm

17. Comparision between a monopoly and a perfectly

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Comparision between a monopoly and a perfectly competitive firm

18. Profit maximising output

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Profit maximising output

19. Sales maximisation

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Sales maximisation

20. Profit maximisation vs revenue maximisation

Profit maximisation vs revenue maximisation

21.Oligopoly

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Oligopoly

22. Price leadership under monopoly

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Price leadership under monopoly

23. Shut down point

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Shut down point

24. Deadweight loss under monopoly

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Deadweight loss under monopoly

25. Imposition of an indirect tax

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Imposition of an indirect tax

26. External costs and the use of indirect taxation

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External costs and the use of indirect taxation

27. Market for pollution permits

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Market for pollution permits

28. Negative consumption externalities

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Negative consumption externalities

29. Positive production externalities

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Positive production externalities

30. External benefits and use of subsidy

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External benefits and use of subsidy diagram

31. lorenze curve

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lorenze curve

32. Individual supply curve of labour.

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Individual supply curve of labour.

33. Supply curve of labour for a firm or industry

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Supply curve of labour for a firm or industry

34. Equilibrium in the labour market

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Equilibrium in the labour market

35. Increase in demand for labour

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Increase in demand for labour

36. Increase in supply for labour

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Increase in supply for labour

37. Economic rent and transfer earnings

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Economic rent and transfer earnings

38. Economic rent

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Economic rent

39. Transfer earnings

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Transfer earnings

40. Marginal product and average product

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Marginal product and average product

41 Minimum wage

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Minimum wage diagram

42. Minimum wage and elasticity

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Minimum wageand elasticity

43. Monopsony buyer of labour

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Monopsony buyer of labour

44. Income and substitution effect

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Income and substitution effect

45. Wage determination in perfect markets

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Wage determination in perfect markers using mrp diagram

46. Wage determination and trade unions

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