{
  "id": "ped-linear-demand",
  "name": "PED along a straight-line demand curve",
  "unit": "micro",
  "unitName": "Unit 2 · Microeconomics",
  "topic": "Elasticity",
  "hl": false,
  "description": "PED falls as we move down a linear demand curve: elastic above the midpoint, unit elastic at the midpoint, inelastic below. Total revenue peaks where PED = 1.",
  "keywords": [
    "PED",
    "linear demand",
    "midpoint",
    "unit elastic",
    "total revenue",
    "TR",
    "revenue maximisation",
    "variable elasticity"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/ped-linear-demand",
  "previewUrl": "https://graphs.lectere.com/thumbs/ped-linear-demand.svg",
  "editorUrl": "https://graphs.lectere.com/graph/ped-linear-demand/",
  "params": [
    {
      "key": "tr",
      "label": "Show total revenue curve below",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "segments",
      "label": "Label elastic / inelastic ranges",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "mid",
      "label": "Mark the midpoint (PED = 1)",
      "default": true,
      "type": "boolean"
    }
  ],
  "defaults": {
    "tr": true,
    "segments": true,
    "mid": true
  },
  "panels": [
    {
      "id": "demand",
      "title": null,
      "xLabel": "Quantity",
      "yLabel": "Price",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "demand:x",
        "y": "demand:y"
      }
    },
    {
      "id": "revenue",
      "title": null,
      "xLabel": "Quantity",
      "yLabel": "Total revenue",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        30
      ],
      "axisKeys": {
        "x": "revenue:x",
        "y": "revenue:y"
      }
    }
  ],
  "labels": [
    {
      "key": "demand:y",
      "default": "Price",
      "hint": "Vertical axis",
      "panel": "demand"
    },
    {
      "key": "demand:x",
      "default": "Quantity",
      "hint": "Horizontal axis",
      "panel": "demand"
    },
    {
      "key": "demand.d",
      "default": "D",
      "hint": "Curve",
      "panel": "demand"
    },
    {
      "key": "demand.mid",
      "default": "PED = 1",
      "hint": "Point",
      "panel": "demand"
    },
    {
      "key": "demand.mid:y",
      "default": "P_1",
      "hint": "Vertical-axis value",
      "panel": "demand"
    },
    {
      "key": "demand.mid:x",
      "default": "Q_1",
      "hint": "Horizontal-axis value",
      "panel": "demand"
    },
    {
      "key": "demand.el",
      "default": "PED > 1\n(elastic)",
      "hint": "Text",
      "panel": "demand"
    },
    {
      "key": "demand.inel",
      "default": "PED < 1\n(inelastic)",
      "hint": "Text",
      "panel": "demand"
    },
    {
      "key": "revenue:y",
      "default": "Total revenue",
      "hint": "Vertical axis",
      "panel": "revenue"
    },
    {
      "key": "revenue:x",
      "default": "Quantity",
      "hint": "Horizontal axis",
      "panel": "revenue"
    },
    {
      "key": "revenue.tr",
      "default": "TR",
      "hint": "Curve",
      "panel": "revenue"
    },
    {
      "key": "revenue.trmax:y",
      "default": "TR_{max}",
      "hint": "Vertical-axis value",
      "panel": "revenue"
    },
    {
      "key": "revenue.trmax:x",
      "default": "Q_1",
      "hint": "Horizontal-axis value",
      "panel": "revenue"
    },
    {
      "key": "revenue.rising",
      "default": "TR rises\nas P falls",
      "hint": "Text",
      "panel": "revenue"
    },
    {
      "key": "revenue.falling",
      "default": "TR falls\nas P falls",
      "hint": "Text",
      "panel": "revenue"
    }
  ],
  "elements": [
    {
      "key": "demand.d",
      "kind": "curve",
      "label": "D"
    },
    {
      "key": "demand.mid",
      "kind": "point",
      "label": "PED = 1"
    },
    {
      "key": "demand.el",
      "kind": "text",
      "label": "PED > 1\n(elastic)"
    },
    {
      "key": "demand.inel",
      "kind": "text",
      "label": "PED < 1\n(inelastic)"
    },
    {
      "key": "revenue.tr",
      "kind": "curve",
      "label": "TR"
    },
    {
      "key": "revenue.trmax",
      "kind": "point"
    },
    {
      "key": "revenue.rising",
      "kind": "text",
      "label": "TR rises\nas P falls"
    },
    {
      "key": "revenue.falling",
      "kind": "text",
      "label": "TR falls\nas P falls"
    }
  ],
  "stats": null,
  "example": {
    "template": "ped-linear-demand",
    "params": {
      "tr": true,
      "segments": true,
      "mid": true
    }
  }
}