{
  "id": "revenue-perfect-competition",
  "name": "Revenue curves in perfect competition",
  "unit": "micro",
  "unitName": "Unit 2 · Microeconomics",
  "topic": "Costs & revenues (HL)",
  "hl": true,
  "description": "A price-taking firm faces a perfectly elastic demand curve at the market price, so price = marginal revenue = average revenue and total revenue rises in a straight line.",
  "keywords": [
    "price taker",
    "perfectly elastic demand",
    "average revenue",
    "marginal revenue",
    "total revenue",
    "P = MR = AR"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/revenue-perfect-competition",
  "previewUrl": "https://graphs.lectere.com/thumbs/revenue-perfect-competition.svg",
  "editorUrl": "https://graphs.lectere.com/graph/revenue-perfect-competition/",
  "params": [
    {
      "key": "view",
      "label": "Show",
      "default": "firm",
      "type": "enum",
      "options": [
        {
          "value": "firm",
          "label": "Firm only"
        },
        {
          "value": "industry",
          "label": "Industry and firm"
        },
        {
          "value": "tr",
          "label": "AR/MR with total revenue"
        }
      ]
    },
    {
      "key": "price",
      "label": "Market price",
      "default": 5,
      "group": "Shape",
      "type": "number",
      "min": 2,
      "max": 8,
      "step": 0.1
    }
  ],
  "defaults": {
    "view": "firm",
    "price": 5
  },
  "panels": [
    {
      "id": "firm",
      "title": null,
      "xLabel": "Output",
      "yLabel": "Price, revenue",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "firm:x",
        "y": "firm:y"
      }
    }
  ],
  "labels": [
    {
      "key": "firm:y",
      "default": "Price, revenue",
      "hint": "Vertical axis",
      "panel": "firm"
    },
    {
      "key": "firm:x",
      "default": "Output",
      "hint": "Horizontal axis",
      "panel": "firm"
    },
    {
      "key": "firm.ar",
      "default": "D = AR = MR",
      "hint": "Curve",
      "panel": "firm"
    },
    {
      "key": "firm.p",
      "default": "P_e",
      "hint": "Axis mark",
      "panel": "firm"
    }
  ],
  "elements": [
    {
      "key": "firm.ar",
      "kind": "curve",
      "label": "D = AR = MR"
    },
    {
      "key": "firm.p",
      "kind": "tick",
      "label": "P_e"
    }
  ],
  "stats": null,
  "example": {
    "template": "revenue-perfect-competition",
    "params": {
      "view": "firm",
      "price": 5
    }
  }
}