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• Total Revenue TR= P × Q • Marginal Revenue MR= DTR/DQ Q TR MR ∆ ∆ = • Total cost TC=FC × VC • Marginal cost • Average va... Study Economics, Economics Formulas, Ap Microeconomics, Ap Macroeconomics, Microeconomics Study, Economics 101, Learn Economics, Micro Economics, Opportunity Cost Economics

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GDP is a measure of a country's economy, calculated by adding the value of all goods and services produced within its borders. It reflects the standard of living and helps determine the size of a country's economy, used for allocating government resources and setting policies. It is expressed as per capita and adjusted for cost of living, with PPP used for cross-country comparisons. GDP includes goods/services produced within borders, during a given time period, and intended for the market. Micro Economics Notes, Economic Notes, Money Mentality, Economics Poster, Macro Economics, Learn Economics, Accounting Notes, Micro Economics, Economics Notes

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