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AC average costs AFC average fixed costs AP average product AR average revenue ATC average total costs AVC average variable costs C costs Const. constant D demand E equilibrium FC fixed costs I income I investment i interest K capital L labor MEB marginal external benefit MEC marginal external costs MC marginal costs MOC marginal opportunity costs   MPB marginal private benefit MPC marginal private costs MP marginal product MPL marginal product of labor MPK marginal product of capital MR marginal revenue MRC marginal resource costs   MRP marginal revenue product   MRTS marginal rate of technical substitution MSB marginal social benefit MSC marginal social costs   MU marginal utility P price Pd price of demand () ( ) () , , ()

 

Ps price of supply PI personal income p profit Q quantity Qd quantity of demand Qs quantity of supply R rent r rate of interest t tax S supply T taxes TR total revenue TC total costs TU total utility U utility VC variable costs Vp present value   W wage , () () () () () ()

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