AP微观学复习之基础公式

　　在微观经济学总复习阶段考生除了需要掌握基本原理，还需要掌握计算题要用到的公式，以下为AP微观经济学考纲中涉及到的基本公式，考生需要熟记并会在题目中灵活运用。

　　在微观经济学总复习阶段考生除了需要掌握基本原理，还需要掌握计算题要用到的公式，以下为AP微观经济学考纲中涉及到的基本公式，考生需要熟记并会在题目中灵活运用。

　　1.Cost-benefit analysis: MB=MC

　　Optimal quantity is achieved when marginal benefit equals to marginal cost.

　　2.utility maximizing rule: MUx/Px=MUy/Py

　　Consumers allocate their limited income to purchase the combination of goods that maximizes their utility by equating/comparing the marginal utility of the last dollar spent on each good.

　　3.Price elasticity of demand=percentage change in Qd/percentage change in price

　　4.Price elasticity of supply=percentage change in Qs/percentage change in price

　　5.Income elasticity of demand=percentage change in Qd/percentage change in income

　　6.Cross-price elasticity of demand=percentage change in Qa/percentage change in Pb

　　7.Marginal Product(n)=Total Product (n)-Total Product(n-1)

　　8.Average Product (n)=TP (n)/n

　　9.MC(n)=TC (n) – TC (n-1)=VC (n) – VC (n-1)

　　10.TC=VC + FC

　　11.ATC=AVC + AFC

　　12.TC=ATC Q

　　13.VC=AVC Q

　　14.FC=AFC Q

　　15.profit maximizing rule/loss minimising rule: MR=MC

　　16.Perfectly competitive firm: demand=MR=AR=P

　　17.Allocative efficiency: P=MC

　　18.Shut down rule: P=minimum AVC

　　19.Economic Profit=Total revenue – total cost=P Q – AVC Q

　　=total revenue – explicit cost – implicit cost

　　=accounting profit – opportunity cost

　　20.When total revenue equals to total cost, zero economic profit=normal profit

　　21.Factor market equilibrium: Marginal Resource Cost (MRC)=Marginal Revenue Product (MRP)

　　22.MRP=Marginal Product(MP) Price

　　23.Profit maximizing rule for combining resources:

　　MPx/Px=MPy/Py

　　24.Externality: social optimal quantity: Marginal Social Benefit=Marginal Socail Cost

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