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Economic Math Equations

The flashcards below were created by user Christianeib313 on FreezingBlue Flashcards.

  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
Updated:
2012-10-11 21:02:10
Tags:
Econ math
Folders:

Description:
Math for econ 20
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