Equation 11 · Part 8 · The Unit Economics of a Token
addition
addition
What this part means
Add the term after the plus sign to the term or group before it.
Its job in the formula
Add the term after the plus sign to the term or group before it.
Full expression→addition→Article meaning
The passage around this formula
The nonlinearity that surprises people does not live in this equation, which is linear. It lives in agent loops. Suppose a loop runs for k steps, each step appends roughly a tokens of tool output and assistant text, and the context started at b tokens. The total input billed across the whole loop is then . which is quadratic in the number of steps. Doubling the length of an agent trajectory roughly quadruples its input billing. This is why cache hit rate dominates agentic economics: prefix caching converts most of that quadratic term into reads at one tenth the price, and a workload that loses its cache to a time-to-live expiry or an effort change pays the full quadratic […
Learn the underlying idea
Addition combines quantities; subtraction measures the signed difference between them. Parentheses show what is combined before the rest of the expression is evaluated.
Open the illustrated addition and subtraction in an equation guide →
Sources cited in the article section
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