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organized by modi_sa

Qd=a+bP
P Qd
Price Demand Function a
b
P Q

Elasticity of
Demand( Ed)
Qd P
Ep  
P Q

I = Qd 

Qx Py

Py Qx

Cross
x Qx
Elasticity of Demand y Py
y Py
x Qx

Qs=a+bP
Qs 
a 

b
b
MU
P

I = Px X + Py Y + Pz Z
Z Y X

y x

TP
Total Product

MP Q
MPL =
Marginal Product L
L Q

TP
AP =
L
TC = FC + TVC
TC

ATC = AVC + AFC


ATC 

Marglin Cost MC MC =

TR (Total Revenues) TR= P Q

Average Revenues
AR=

P ( Price ) =

MR =
Marginal revenues

Profits

MR = P ( + )

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