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