![]() ![]() We look at the average cost (AC) of a specific item or purchase within a business. Or if you’re taking Macro, our must know Macroeconomics formulas post here.Įnjoying this article? Get our 137-page guide to doing well in high school here. Looking for resources? Check out the best AP Microeconomics review books here. So, let’s take a look at the formulas you’re going to need to know. For this article, we’re going to be focusing on single factors and effects related to individual decisions rather than those of the whole economy. ![]() If you’re looking for macroeconomics, you can check out our other article on the topic. Please note that well microeconomics and macroeconomics are related fields the two are definitely not the same thing. Throughout all of these sections, we’ll give you a good foundation of what you need to know in order to be fully prepared. If you’re getting into the more advanced sections, you might need the IB economics or college sections instead. inelastic, and how to calculate elasticity of demand. In this post, we’ll go over the must know microeconomics formulas.įor those who are just getting into microeconomics, the general high school section is going to be the place you want to start, or possibly the advanced placement area, where you’ll learn about elastic vs. After all, they’re going to be used throughout your courses as well as in any tests you take. The formulas and equations that go along with the topic are definitely at the top of the list (and the top of this microeconomics cheat sheet). ![]() If you’re entering into a microeconomics course either in high school or college, then there are a number of things you’re going to want to know. ![]()
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