Micro Formulas Flashcards
(6 cards)
1
Q
Sales max
A
AR=AC
1
Q
Profit max
A
MR=MC
2
Q
Revenue max
A
MR=0
3
Q
Allocative efficiency
A
P=MC
4
Q
Productive efficiency
A
Lowest point of AC
5
Q
Shutdown rule
A
AR = AVC