Formulas Flashcards
1
Q
Tr
A
=P x Q
2
Q
Ar
A
= Tr/Q
3
Q
MR
A
= change Tr/ change Q
4
Q
Ar
A
=P (for all firms)
5
Q
Mr
A
= P (for competitive only )
6
Q
Profit per unit
A
= P - ATC
7
Q
Total profit
A
= (p - ATC) x Q
8
Q
Total loss
A
= (ATC - p) x Q
9
Q
Profit
A
= Tr - Tc
10
Q
MPL
A
= change in Q/ change in L
11
Q
VMPL
A
=P x MPL
12
Q
Mc
A
= W/ MPL
