1. Present value of expected future profits:
   or since profits = Total Revenues less Total Cost,
   
   
   where π = Total Revenue – Total Costs, t = time, and i = the interest rate.
2. The demand function is downward-sloping:
   (for the case of a straight-line demand curve),
   where a is the intercept and b is the slope of the curve, and P is the price of the product.
3. The supply function is upward sloping:
   (has a positive, or upward-sloping, shape).
4. Equilibrium:
   .
   where is quantity demanded and is quantity supplied.

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