Subjects economics

Economic Math Notation

Step-by-step solutions with LaTeX - clean, fast, and student-friendly.

Search Solutions

Economic Math Notation


1. The problem asks to rewrite a given expression in normal economic math notation. 2. Economic math typically involves variables such as $P$ for price, $Q$ for quantity, $R$ for revenue, $C$ for cost, and $\pi$ for profit. 3. If the expression involves revenue, it is usually written as $R = P \times Q$. 4. Cost expressions might look like $C = FC + VC \times Q$, where $FC$ is fixed cost and $VC$ is variable cost per unit. 5. Profit is generally written as $\pi = R - C$. 6. To finalize, rewrite the expression using these conventional variables clearly, replacing any non-standard notation.