Advanced mathematics
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22 Terms
1
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pi
profit function
2
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pi =
TR - TC
3
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TR
total revenue
4
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TC
total cost
5
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TC =
FC + VC
6
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FC
fixed cost
7
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VC
variable cost
8
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MR
marginal revenue
9
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MR =
đạo hàm TR
10
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AR
average revenue
11
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AR =
TR / Q
12
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APL
average product of labour
13
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APL =
Q/L
14
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Marginal =
đạo hàm
15
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MPC
marginal propensity to consume
16
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MPS
marginal propensity to save
17
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MPC + MPS =
1
18
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E
price elasticity
19
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E =
Q’.P/Q
20
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E <1
inelastic
21
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E =1
unit elastic
22
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E >1
elastic
Note 
Flashcards (57)