Economic Math Equations

  1. Marginal Physical Product? (MPP)
    Change in Total output divided by change in total quantity
  2. Profit
    Total Revenue - Total Cost
  3. Marginal Cost 
    Change in total cost divided by change in total output
  4. Price elasticity of demand
    % change in quantity divided by % change in price
  5. Total Revenue
    Price of a product x Quantity sold
Author
Christianeib313
ID
177070
Card Set
Economic Math Equations
Description
Math for econ 20
Updated