ΔY=k×ΔInjectioncap delta cap Y equals k cross cap delta Injection : Total change in national income (GDP).
Understand the relationships (e.g., why MCcap M cap C intersects ATCcap A cap T cap C at its minimum).
GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren : Private Consumption : Private Investment : Government Spending : Export revenues : Import expenditures Gross National Income (GNI) Formula: ib economics hl formula booklet repack
The area above the supply curve and below the market price.
Before you build your repack, you must know what actually appears on Paper 3. Here is the structural breakdown you need to include. ΔY=k×ΔInjectioncap delta cap Y equals k cross cap
Total Revenue (TR)=P×QTotal Revenue (TR) equals cap P cross cap Q
PES=%ΔQs%ΔPPES equals the fraction with numerator % cap delta cap Q sub s and denominator % cap delta cap P end-fraction Costs, Revenues, and Profit Calculations Before you build your repack, you must know
Area=12×Base×HeightArea equals one-half cross Base cross Height Unit 2 HL Extension: Theory of the Firm
These formulas quantify market welfare and the deadweight losses caused by interventions like taxes, subsidies, or price controls.
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The IB Economics HL exam demands precise quantitative analysis. While the International Baccalaureate Organization (IBO) provides an official guide, many students find the layout unintuitive during high-pressure exams. A "formula booklet repack" reorganizes, clarifies, and supplements the official data. This comprehensive guide serves as your definitive repack, delivering every critical Higher Level formula, diagram connection, and calculation strategy you need to score a 7. Unit 2: Microeconomics Formulas