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Economics A-Level Micro > 7) Rational decision making > Flashcards

7) Rational decision making Flashcards

1
Q

What is TC?

A

TFC+TVC

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2
Q

What is TR?

A

P x Q

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3
Q

What is AC?

A

TC/Q

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4
Q

What is AR?

A

TR/Q

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5
Q

What is Economic welfare?

A

The level of well-being or prosperity or living standards of an individual or group of individuals such as a country

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Economics A-Level Micro (31 decks)

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