p Price Determination 2( p In macroeconomics, the cost of a product in 2 general is reflected by the wage. Therefore one could write the price equation as 多P=(W+q)(1+()多 where g could be regarded as the production cost other than wage; u the markup over the cost W+qPrice Determination • In macroeconomics, the cost of a product in general is reflected by the wage. Therefore one could write the price equation as P = (W+q)(1+µ) where q could be regarded as the production cost other than wage; µ the markup over the cost W+q