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TP
Q
Average Product(AP)
Total Product(Q)/ Labour (L)
Marginal Product (MP)
Change in Total Product/ Change in Labor
Profit
(Average Revenue - Average Costs) x Quantity
Total Revenue (TR0
Price(P) x Quantity (Q)
Total Costs (TC)
Total Fixed Costs (TFC) +Total Variabel Cost(TVC)
Total Cost (TC)
Average Cost (AC) x Quantity (Q)
Average Cost (AC)
Total Costs(TC) / Quantity(Q)
Average Fixed Cost(AFC)
Total Fixed Cost (TFC)/ Quantity (Q)
Average Variable Costs(AVC)
Total Variable Costs(TVC) / Quantity (Q)
Average Revenue (AR)
Total Revenue (TR) / Quanity(Q)
Marginal Revenue(MR)
Change in Total Revenue/ Change in Quantity
Marginal Cost (MC)
Change in Total Cost / Change in Quantity
Note 
Flashcard (20)