{
  "id": "product-curves",
  "name": "Total, average and marginal product",
  "unit": "micro",
  "unitName": "Unit 2 · Microeconomics",
  "topic": "Costs & revenues (HL)",
  "hl": true,
  "description": "In the short run, total product rises at an increasing then decreasing rate. Marginal product peaks first (diminishing marginal returns set in), cuts average product at its maximum and is zero where total product is maximised.",
  "keywords": [
    "law of diminishing marginal returns",
    "total product",
    "average product",
    "marginal product",
    "short run",
    "variable factor",
    "TP",
    "AP",
    "MP"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/product-curves",
  "previewUrl": "https://graphs.lectere.com/thumbs/product-curves.svg",
  "editorUrl": "https://graphs.lectere.com/graph/product-curves/",
  "params": [
    {
      "key": "guides",
      "label": "Show key levels of labour",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "dmr",
      "label": "Mark diminishing marginal returns",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "negMP",
      "label": "Extend MP below zero",
      "default": false,
      "type": "boolean"
    }
  ],
  "defaults": {
    "guides": true,
    "dmr": true,
    "negMP": false
  },
  "panels": [
    {
      "id": "tp",
      "title": null,
      "xLabel": "Labour (L)",
      "yLabel": "Total product",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "tp:x",
        "y": "tp:y"
      }
    },
    {
      "id": "apmp",
      "title": null,
      "xLabel": "Labour (L)",
      "yLabel": "AP, MP",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        2.2
      ],
      "axisKeys": {
        "x": "apmp:x",
        "y": "apmp:y"
      }
    }
  ],
  "labels": [
    {
      "key": "tp:y",
      "default": "Total product",
      "hint": "Vertical axis",
      "panel": "tp"
    },
    {
      "key": "tp:x",
      "default": "Labour (L)",
      "hint": "Horizontal axis",
      "panel": "tp"
    },
    {
      "key": "tp.tp",
      "default": "TP",
      "hint": "Curve",
      "panel": "tp"
    },
    {
      "key": "tp.l1:x",
      "default": "L_1",
      "hint": "Horizontal-axis value",
      "panel": "tp"
    },
    {
      "key": "tp.l2:x",
      "default": "L_2",
      "hint": "Horizontal-axis value",
      "panel": "tp"
    },
    {
      "key": "tp.l3",
      "default": "TP max",
      "hint": "Point",
      "panel": "tp"
    },
    {
      "key": "tp.l3:x",
      "default": "L_3",
      "hint": "Horizontal-axis value",
      "panel": "tp"
    },
    {
      "key": "apmp:y",
      "default": "AP, MP",
      "hint": "Vertical axis",
      "panel": "apmp"
    },
    {
      "key": "apmp:x",
      "default": "Labour (L)",
      "hint": "Horizontal axis",
      "panel": "apmp"
    },
    {
      "key": "apmp.ap",
      "default": "AP",
      "hint": "Curve",
      "panel": "apmp"
    },
    {
      "key": "apmp.mp",
      "default": "MP",
      "hint": "Curve",
      "panel": "apmp"
    },
    {
      "key": "apmp.l1:x",
      "default": "L_1",
      "hint": "Horizontal-axis value",
      "panel": "apmp"
    },
    {
      "key": "apmp.l2",
      "default": "MP = AP",
      "hint": "Point",
      "panel": "apmp"
    },
    {
      "key": "apmp.l2:x",
      "default": "L_2",
      "hint": "Horizontal-axis value",
      "panel": "apmp"
    },
    {
      "key": "apmp.l3:x",
      "default": "L_3",
      "hint": "Horizontal-axis value",
      "panel": "apmp"
    },
    {
      "key": "apmp.dmr",
      "default": "diminishing marginal returns",
      "hint": "Arrow / line",
      "panel": "apmp"
    }
  ],
  "elements": [
    {
      "key": "tp.tp",
      "kind": "curve",
      "label": "TP"
    },
    {
      "key": "tp.l1",
      "kind": "point"
    },
    {
      "key": "tp.l2",
      "kind": "point"
    },
    {
      "key": "tp.l3",
      "kind": "point",
      "label": "TP max"
    },
    {
      "key": "apmp.ap",
      "kind": "curve",
      "label": "AP"
    },
    {
      "key": "apmp.mp",
      "kind": "curve",
      "label": "MP"
    },
    {
      "key": "apmp.l1",
      "kind": "point"
    },
    {
      "key": "apmp.l2",
      "kind": "point",
      "label": "MP = AP"
    },
    {
      "key": "apmp.l3",
      "kind": "point"
    },
    {
      "key": "apmp.dmr",
      "kind": "line",
      "label": "diminishing marginal returns"
    }
  ],
  "stats": null,
  "example": {
    "template": "product-curves",
    "params": {
      "guides": true,
      "dmr": true,
      "negMP": false
    }
  }
}