Formulas Flashcards
1
Q
Total Revenue
A
Price x Quantity
2
Q
Midpoint
A
change in price Change in Q
Average in Price n Ave Q
/ /
Find A1. Find A2
A2 over A1
3
Q
Elasticity or inelasticity
A
change in Q. x. P
Divide by Q. Change in P
4
Q
Net Benefits
A
Net Benefit = Total Benefits - Total Costs
