Unit 1: Markets are Efficient, Except . . . Intro to Microeconomics

Lesson 1a: The Class and the Math

Key Formulas

Slope = rise/run Slope = vertical change / horizontal change Slope = marginal value of the total Marginal (extra) = change in total / change in quantity The area under a marginal curve = the total Average = total / quantity Total = average x quantity Total = the sum of the marginal (add up all extras) Total = the area under the marginal

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