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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