reconPlots (economics graphs)

Hi,

I'm trying to replicate the economics graph below using R:

I found a suitable package for this 'reconPlots'

But I got stuck at this stage:

library(tidyverse)
library(reconPlots)

curve1 <- data.frame(Hmisc::bezier(c(4, 4, 4), c(1, 5, 10)))
curve2 <- data.frame(Hmisc::bezier(c(1, 3, 7), c(10, 5, 2)))

curve_intersection <- curve_intersect(curve1, curve2)
#> Warning in regularize.values(x, y, ties, missing(ties), na.rm = na.rm):
#> collapsing to unique 'x' values
curve_intersection
#> $x
#> [1] 4
#> 
#> $y
#> [1] 4.864169

# Calculate consumer surplus area
consumer_surplus <- curve_intersection$x - curve2$y
consumer_surplus_area <- sum(consumer_surplus) * (curve_intersection$x - curve1$x)




ggplot() +
  geom_line(data = curve1, aes(x = x, y = y, color = "nabídka"), linewidth = 1) +
  geom_line(data = curve2, aes(x = x, y = y, color = "popt√°vka"), linewidth = 1) +
  geom_hline(yintercept = curve_intersection$y, linetype = "dotted") +
  geom_ribbon(data = curve2, 
              aes(x = x,
                  ymin = curve_intersection$y, ymax = curve2$y,
                  fill = "Consumer Surplus"), 
              alpha = 0.2,
              show.legend = F) +
  theme_minimal() +
  theme(
    legend.position = 'bottom',
    legend.box.margin = margin(0, -200, -1, -200), 
    legend.title = element_blank(),
    text = element_text(size = 16),
    legend.text = element_text(size = 14),
    axis.title.x = element_text(size = 14, margin = margin(15, 0, 0, 0)),
    axis.title.y = element_text(size = 14, margin = margin(0, 15, 0, 0)),
    panel.grid.major = element_blank(),
    panel.grid.minor = element_blank(),
    axis.text = element_blank()
  ) +
  labs(x = "mnoŇĺstv√≠", y = "cena") +
  scale_color_manual(values = rev(c("#00254B", "#ECB925")),
                     labels = rev(c("nabídka", "poptávka")),
                     breaks = c("poptávka", "nabídka")) +
  scale_fill_manual(values = c("Consumer Surplus" = "#F2CE6E"))
#> Warning: Use of `curve2$y` is discouraged.
#> ‚ĄĻ Use `y` instead.

Do you have any suggestion how to proceed?

Many thanks for your time!

Try

na.rm = TRUE

Assuming this is clear?

Plot along these lines.

library(ggplot2)

d <- data.frame(
  Quantity = seq(0, 100, by = 1), 
  Price = 100 * exp(-0.05 * seq(0, 100, by = 1)) + 10)
chopt <- d[1:24,]
ggplot(d, aes(x = Quantity, y = Price)) +
  geom_line(color = "red") +
  geom_vline(xintercept = 25,color = "blue") +
  geom_hline(yintercept = 40, linetype = "dashed") +
  geom_hline(yintercept = 30, linetype = "dashed") +
  geom_point(aes(25,40), color = "red", shape = 1, size = 2) +
  geom_area(chopt, mapping = aes(Quantity,Price), fill = "lightpink") +
  geom_rect(aes(xmin = 0, xmax = 25, ymin = 0, ymax = 30), fill = "lightsteelblue") +
  geom_rect(aes(xmin = 0, xmax = 25, ymin = 30, ymax = 40), fill = "lightgray") +
  geom_text(aes(x = 40, y = 45, label = "Market price")) +
  geom_text(aes(x = 12.5, y = 35, label = "Tax revenue")) +
  geom_text(aes(x = 70, y = 35, label = "Tax rate")) +
  geom_text(aes(x = 12.5, y = 50, label = "Consumer\nsurplus")) +
  geom_text(aes(x = 12.5, y = 12.5, label = "Producer\nsurplus")) +
  geom_errorbar(aes(x = 60, ymin = 30, ymax = 40), width = 0.2) +
  theme_minimal() +
  theme(
    legend.position = 'bottom',
    legend.box.margin = margin(0, -200, -1, -200), 
    legend.title = element_blank(),
    text = element_text(size = 16),
    legend.text = element_text(size = 14),
    axis.title.x = element_text(size = 14, margin = margin(15, 0, 0, 0)),
    axis.title.y = element_text(size = 14, margin = margin(0, 15, 0, 0)),
    panel.grid.major = element_blank(),
    panel.grid.minor = element_blank(),
    axis.text = element_blank()
  ) +
  labs(x = "mnoŇĺstv√≠", y = "cena") +
  scale_color_manual(values = rev(c("#00254B", "#ECB925")),
                     labels = rev(c("nabídka", "poptávka")),
                     breaks = c("poptávka", "nabídka")) +
  scale_fill_manual(values = c("Consumer Surplus" = "#F2CE6E"))

Created on 2023-09-20 with reprex v2.0.2

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