What do those letters in economics mean? There are many letters in economics that represent different meanings, which are listed as follows:
P: price q: quantity d: demand s: supply e: equilibrium (or expectation) e: elasticity
Es: price elasticity of supply exy: cross price elasticity of demand u: utility TU: total utility
MRTS: marginal rate of technological substitution c: cost STC: short-term total cost TFC: it will never become a cost.
AC: average total cost MC: marginal cost LTC: long-term total cost
LMC: long-term marginal cost SMC: short-term marginal cost TR: total income AR: average income
PS: producer surplus MP: marginal product VMP: marginal product value
MRP: Marginal Income Product MFC: Marginal Factor Cost R: Interest Rate
Political economics is to highlight the position and role of a class in economic activities, and to study the law of value or economic law spontaneously from a certain side according to the interests of the class it represents, while scientific economics is to consciously study the law of value or economic law as a whole. Symmetric economics is scientific economics.
The core of economics is economic law; In the view of symmetric economics, the optimal allocation and regeneration of resources are only the development and concrete manifestation of economic laws, and the research object of economics should be the economic laws and economic essence behind the optimal allocation and regeneration of resources, rather than staying at the level of optimal allocation and regeneration of resources. It is political economics rather than scientific economics that stays at the level of optimal allocation and optimal regeneration of resources.
I have been reviewing economics recently, and I simply extracted it from the Internet: P: price Q: quantity D: demand S: supply E: equilibrium (or expectation) E: elasticity ed: price elasticity of demand es: price elasticity of supply exy: cross price elasticity of demand U: utility TU: total utility MU: marginal utility cs: consumer surplus MRS: marginal substitution rate of goods L: labor K: capital TP. STC: short-term total cost TFC: total variable cost TC: total variable cost AFC: average variable cost AC: average total cost MC: marginal cost LTC: long-term total cost LAC: long-term average cost SAC: short-term average cost LMC: long-term marginal cost SMC: short-term marginal cost TR: total income AR: average income MR: marginal income PS: producer surplus MP: international product VMP: marginal product value W: labor price. Grid MRP: Marginal Income Product MFC: Marginal Factor Cost R: Interest Rate PEP: Price Expansion Suite There are only two formulas in micro-level, namely, d(U)/d(X)=0 in utility theory and D π/DL = 0 in production theory (DK is the time to find k), and all * * * knowledge comes from these two formulas. . . . .
Urgent! Excuse me: What do those letters in western economics mean? Just the basics-demand, supply, output, price.
Equilibrium, utility, margin, substitution.
A mean, t total
What does margin mean in economics? Take the cost as an example.
Marginal cost refers to the cost of producing a unit product.
Derivative of cost.
What do the letters in the diagram of supply and demand in economics mean? P (price) is the price, Q (quantity) is the quantity of goods, S is the quantity of supply, D is the quantity of demand, E is the balance point of supply and demand, sometimes X is used to represent the quantity of goods X, δ X is used to represent the variation of the quantity of goods X, and δq represents the variation of the quantity of goods. TP, AP and MP represent total output, average output and marginal output respectively. U is generally used to indicate utility, and subscripts are added to distinguish the utility of different commodities or the utility brought by different quantities of the same commodity. Many symbols in economy are based on English meaning and have certain meanings. I suggest you find a book with a comparison table at the back.
What does the letter "eviews" in econometrics stand for? In econometrics, the letter "eviews" has the following meanings:
R square judgment coefficient, the closer to 1, the better.
The decision coefficient of the ADJUSTEDR-SQUARED adjustment is slightly smaller than the decision coefficient in most cases.
The smaller the standard deviation of South E.OFREGRESSION, the better.
The likelihood estimation of logarithmic likelihood can be ignored for the time being.
DURBIN-WATSONSTAT Durbin-Watson statistics to test whether there is a first-order autocorrelation index.
MEANDEPENDENTVAR is the average of the interpreted variables.
Explain the standard deviation of variables.
AKAIKEINFOCRITERION for information on the sun and the night.
SCHWARZCRITERION Schwartz criterion, both of which are used to determine the optimal lag period (usually used in AIC).
F statistic is F statistic, which is an index to test the global significance of the equation.
PROB(F- statistic) is adjoint probability PROB(F- statistic. If less than 0.05, it means that all the independent variables to be estimated are not all zero.
What does beta mean in economics? Betacoefficient, also known as beta coefficient, is a risk index used to measure the price fluctuation of individual stocks or stock funds relative to the whole stock market. β coefficient is a tool to evaluate the systemic risk of securities, which is used to measure the volatility of a securities or portfolio relative to the overall market. Common investment terms such as stocks and funds.
What does MC=MR mean in economics? MC=MR in economics means: marginal cost equals marginal income.
Producer equilibrium:
Production balance refers to how to maximize production at a given cost. When the output of a producer reaches the maximum under a given cost constraint, the producer is in an equilibrium state. Another way of saying this is that given the total cost, when the highest isoyield curve is reached, the producer is in an equilibrium state, and the isoyield curve is tangent to the isocost line. That is, MR=MC, and the marginal cost is equal to the marginal revenue.
Marginal cost:
The cost increase caused by increasing the output of one unit is called marginal cost.
MC =δTC/δQ
Marginal income:
Marginal income refers to the increased income for every unit product sold, that is, the income obtained by selling the last unit product.
MR =δTR/δQ