Formulas Flashcards
1
Q
Economic Profit
A
Revenue - Implicit Cost - Explicit Cost
2
Q
Accounting Profit
A
Revenue - Explicit Cost
3
Q
Elasticity
A
% Change in Quantity Demanded
———————————————-
% Change in Price
4
Q
Present Value
A
FV
——-
(1+r)^t
5
Q
Net Present Value
A
Benefit - Cost
——————
(1+r)^t
