Econ 151 Ch4 Formulas Flashcards
0
Q
Average Variable Cost
A
TVC/output
1
Q
Average Total Cost
A
Total Cost/output
2
Q
Average Product
A
TP/units of labor
3
Q
Average Fixed Cost
A
Total Fixed Cost/quantity
4
Q
Total Cost
A
VC + FC
5
Q
Total Variable Cost
A
L + C
