{
  "id": "short-run-costs",
  "name": "Short-run cost curves",
  "unit": "micro",
  "unitName": "Unit 2 · Microeconomics",
  "topic": "Costs & revenues (HL)",
  "hl": true,
  "description": "Marginal cost cuts average variable cost and average total cost at their minimum points; the vertical gap between ATC and AVC is average fixed cost, which falls as output rises.",
  "keywords": [
    "marginal cost",
    "average total cost",
    "average variable cost",
    "average fixed cost",
    "MC",
    "ATC",
    "AVC",
    "AFC",
    "short run costs"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/short-run-costs",
  "previewUrl": "https://graphs.lectere.com/thumbs/short-run-costs.svg",
  "editorUrl": "https://graphs.lectere.com/graph/short-run-costs/",
  "params": [
    {
      "key": "mc",
      "label": "Marginal cost (MC)",
      "default": true,
      "group": "Curves",
      "type": "boolean"
    },
    {
      "key": "atc",
      "label": "Average total cost (ATC)",
      "default": true,
      "group": "Curves",
      "type": "boolean"
    },
    {
      "key": "avc",
      "label": "Average variable cost (AVC)",
      "default": true,
      "group": "Curves",
      "type": "boolean"
    },
    {
      "key": "afc",
      "label": "Average fixed cost (AFC)",
      "default": false,
      "group": "Curves",
      "type": "boolean"
    },
    {
      "key": "minima",
      "label": "Mark where MC cuts AVC and ATC",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "gap",
      "label": "Show AFC as the gap between ATC and AVC",
      "default": false,
      "type": "boolean"
    },
    {
      "key": "F",
      "label": "Fixed costs",
      "default": 6,
      "group": "Shape",
      "type": "number",
      "min": 2,
      "max": 10,
      "step": 0.5
    }
  ],
  "defaults": {
    "mc": true,
    "atc": true,
    "avc": true,
    "afc": false,
    "minima": true,
    "gap": false,
    "F": 6
  },
  "panels": [
    {
      "id": "main",
      "title": null,
      "xLabel": "Output",
      "yLabel": "Costs",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "main:x",
        "y": "main:y"
      }
    }
  ],
  "labels": [
    {
      "key": "main:y",
      "default": "Costs",
      "hint": "Vertical axis",
      "panel": "main"
    },
    {
      "key": "main:x",
      "default": "Output",
      "hint": "Horizontal axis",
      "panel": "main"
    },
    {
      "key": "main.avc",
      "default": "AVC",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.atc",
      "default": "ATC",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.mc",
      "default": "MC",
      "hint": "Curve",
      "panel": "main"
    }
  ],
  "elements": [
    {
      "key": "main.avc",
      "kind": "curve",
      "label": "AVC"
    },
    {
      "key": "main.atc",
      "kind": "curve",
      "label": "ATC"
    },
    {
      "key": "main.mc",
      "kind": "curve",
      "label": "MC"
    },
    {
      "key": "main.minavc",
      "kind": "point"
    },
    {
      "key": "main.minatc",
      "kind": "point"
    }
  ],
  "stats": null,
  "example": {
    "template": "short-run-costs",
    "params": {
      "mc": true,
      "atc": true,
      "avc": true,
      "afc": false,
      "minima": true,
      "gap": false,
      "F": 6
    }
  }
}