Drawing Graphs 2 Flashcards

1
Q

Draw the laffer curve

A
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2
Q

Draw the Lorenz curve

A
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3
Q

Draw the kuznets curve

A
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4
Q

Draw the rent control graph

A
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5
Q

Draw the graph of ignoring negative production externalities leads to overproduction

A
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6
Q

Draw the graph of ignoring positive production externalities leads to underproduction

A
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7
Q

Draw the graph of ignoring negative consumption externalities leads to overconsumption

A
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8
Q

Draw the graph of ignoring positive consumption externalities leads to under consumption

A
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9
Q

Draw the graph of price control: maximum price

A
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10
Q

Draw the graph of price control: minimum price

A
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11
Q

Draw the graphs of the consequences of discrimination

A
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12
Q

In the externality diagrams what does “over” infer?

A

There will be welfare loss

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13
Q

In the externality diagrams what does “under” infer?

A

There will be potential welfare gain

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14
Q

In the externality diagrams what does “production” infer?

A

The conjoined line is the benefits and it will be downward sloping (like a demand curve)

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15
Q

In the externality diagrams what does “consumption” infer?

A

The conjoined line will be costs
The line is upwards sloping (like a supply curve)

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