EQUATIONS AND CONDITION

TOTAL COST TFC t TVC

AC X Q
TFC TC TVC TVC IC T FC
AFC X Q AVC X Q

AVERAGE COST A Fct AVC

Q
MARGINAL COST e ATC
FQ
AVERAGE PRODUCT I
Q of labour
MARGINAL PRODUCT A TP
A Tof labour
TOTAL REVENUE PX Q
AVERAGE REVENUE Try P
Q
MARGINAL REVENUE AI
A Q

PROFIT TR Tc
SUPERNORMAL PROFIT when AR AC
SUBNORMAL PROFIT when ARLAC
PROFIT MAX MRI MC
REVENUE may MR 0
ACE AR
revenue
Carreragecost average
Normal profit
Sales tax
Breakeven
limit price
Entry
ALLOCATIVE Efficiency D 5 MSB c MSC g Pe MC
Min point Ac MC
PRODUCTIVE Efficiency on AC
 X Efficiency At AC
any point on curve

Dynamic Efficiency R SUPERNORMAL PROFIT

At the lowest
minimum efficient scale when the ACquantity
stop
decreasing
SHUTDOWN CONDITION AR AVC ARL AVC
AVERAGE utility TO MARGINAL
utility
Q ATL
AQ

Max Mu o
Utility
Suu al cost Private cost 1 external cost
Social Benefit PB t EB
MRP MCL
Profit Max
Lebour markets
PED To A Qb PES To IQs
DP AP
XED Yo AQSA YED AQg
APB okay

MALRECONOMIC CONDITIONS AND EQUATIONS

Output Method Income Method Exp
GDP method
current Prices
Nominal GDP Quantity
x spff.IEgneieyoo
fffiesant base yeenf
Real Gdp Quantity
NGDP x 100
GDP Deflator red GDP
N l GDP Net factor income
 Green GDP GDP environmental costs

C t G t I t X M
AD

Keynesian Multiplier Index no.me al.xho

1 I ran Val
d MPC MPW
marginal PropensityWithdrawal
Unemployment Rate 7 A
Unemployed Difference here
labour force Original

Area between LC Lope

Gini coefficient
Total area beneath LOPE

MARSHALL LERNER PED t PEDM 1

CONDITION

TERMS OF TRADE Average index Price of exports Xcu

Average index price of imports
TAXABLE INCOME TOTAL INCOME TAX FREE ALLOWANCE

AVERAGE RATE OF LAX TOTAL INCOME TAX PAID X 100

TOTAL INCOME

MARGINAL RATE OF TAX A TOTAL INCOME TAX PAID

Khoo
A TOTAL INCOME