Công thức vi mô cho MC & ATC trong Kinh Tế Học | Microeconomics | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

MC = change in total cost/change in quantity OCA = loss in B/gain in A
Price elasticity = P/Q x 1/slope Slope = đối/kề
Cross price elasticity of demand = %change in 1st demand/%change in 2nd price >0 => substitute, <0 => complement
Income elasticity of demand = %quantity demand change/%income change
Profit = Total revenue − Total cost
= Total revenue – (Variable cost + Fixed cost).
= Total revenue – (AVC x Q + (ATC – AVC) x Q) Short-run shutdown condition:
P × Q < VC (the firm’s variable cost) for all levels of Q. average variable cost AVC = VC/Q
Short-run shutdown condition (alternate version): P < minimum value of AVC average total cost ATC = TC/Q
Profitable firm: total revenue – total cost >0
Profit = total revenue – total cost = PxQ - ATCxQ = (P – ATC)xQ
The MC curve cuts both the AVC and ATC curves at their minimum points
MC cut ATC: min cost => if lower, the firm should shut down in the short run
A Negative Profit: When price is less than ATC at the profit-maximizing quantity, the firm experiences a
loss, which is equal to the area of the shaded rectangle.
producer surplus: (P – seller reservation pr
Accounting profit = Total revenue − Explicit costs
Economic profit = Total revenue − Explicit costs − Implicit costs. <0 => economic loss = (P-ATC)xQ
Normal profit = Implicit cost = Accounting Profit – economic profit
total cost = TC = F + M×Q (F: fixed cost, M: marginal cost, Q: the level of output produced) MxQ: Variable cost ATC = TC/Q = F/Q + M Social MC = Private MC + XC XC: external cost