PPT 5

• It is calculated by multiplying the product price by the quantity demanded or sold. 


  FORMULA:

  TR = P × Q
• percentage change in quantity demanded of product X

  percentage change in price of product X
• Calculating Percentage:


  (percentage change in quantity demanded of product X ÷ original quantity demanded of product X) × 100
• Change in price between 2 points:

  (change in price of product X ÷ original price of product X) × 100
• Mid Pricing Formulas:


  (changes in quantity ÷ sum of quantity/2)

  ÷

  (changes in prices ÷ sum of prices/2)