🧮 Formula sheet
- 1.Average Product (AP) = TP / L
- 2.Marginal Product (MP) = ΔTP / ΔL
- 3.Total Cost (TC) = TFC + TVC
- 4.Average Cost (AC) = TC / Q
- 5.Marginal Cost (MC) = ΔTC / ΔQ
Want more depth on formula sheet?
Make it click
Business Economics + Business & Commercial Knowledge
Ch 2 · Theory of Production and Cost
5 concept points · 5 formulas · 4 exam-critical points.