Lines:MR=Marginal Revenue
AR=Average revenue(Total Revenue devided by Q)
SRMC=Short Run Marginal Costs(costs of producing one extra unit)
SRAC=Short Run Average Costs(Total costs devided by Q)
Intersections:
SRMC and SRAC-productive efficiency
SRMC and MR-profit maximising
AR and SRAC-normal profits
MR1 and Q-maximising Sales
Spaces:
difference between AR and AC at any Qx multiplied by Qx equals to profits.
Oh that's a great stuff!Thank you! whoever you are!)
ReplyDeleteNice joke dima!=)))Nice blog as well...!
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