Midterm #2 Economics Study Guide How to find
MPL marginal product
fixed costs = T.C.
M. c. = marginal
cost added by producing prodvet
A.T.C. = ang total cost Profit - Price - A.T.C.
- add all the variable costs together then
If you want to learn more check out What are criteria pollutants based on?
divide by Q = answer A total fixed costs divicted by Q = Answer B
Answer A + Answer B=A.T.C.
A.V. C. = average variable cost
add up all the variable costs divided by Q=A.V. c. the Profit = T.R. - T.C. We also discuss several other topics like What is the difference between aerial and vegetative hyphae?
M. u.= marginal utility
additional satisfaction from that one extra anit We also discuss several other topics like Does c supp increase protein synthesis and therefore provide basis for increase in strength?
Economics. Study Guide , page 2 D. W.L. - dead weight loss
D.W.C. - .5.W.CP2 - P.) •(01-02)
P. C.M. = Perfectly competetive market Don't forget about the age old question of What does it mean to be modern? what did “modern” mean in 1876?
→ price & quantity = where maneet elemand/ and
i market supply cross.
Mc. = M.R.
curve, the firm
Shutdown Pt = the minimum pt. on the Ave Don't forget about the age old question of What does the painting titian, diana, and actaeon depict?
if price falls belo this panther will shutdown
maximizing cetility: mualPA MU BIPAS
prisoners ditema two firms have two options
whose outcome depends crucially on the others choice, which happens at the same
time as the other i.e. two prisoners reperately dealing whether
to confess to a crime
srudy Soup If you want to learn more check out What are the two models of the pace of speciation?
only a few ads, product
large firms diff., barriers
* BE ABLE TO MO & IDENTIFY M.C. M.R.D
AND DEAD WEIGHT Loss!