Theory of the Firm – Key Conditions and Formulae
- Levels: A Level, IB
- Exam boards: AQA, Edexcel, OCR, IB, Eduqas, WJEC
In this quick fire five minute video we go through an A-Z of many of the key formulae and conditions that you will need to understand for microeconomic theory of the firm questions. Have a pen handy to include them in your revision notes!
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- Economics
- Student videos
- Marginal cost
- Marginal profit
- Marginal revenue
- Marginal benefit
- Marginal product (MP)
- Profit maximisation
- Allocative efficiency
- Costs
- Average cost
- Variable cost
- Sunk cost
- Overhead costs
- Fixed cost
- Average Fixed Cost
- Economic Efficiency
- Productive efficiency
- Static efficiency
- Show more...
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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