This resource focuses on calculating Total Revenue (TR) by multiplying Price (P) with Quantity (Q) sold, using a gasoline sales scenario for practical application. Students will practice calculating TR for different price points and analyze how price changes impact revenue. The document introduces concepts of elastic and inelastic demand, helping students determine when raising prices will increase or decrease total revenue based on consumer behavior. Included are practical scenarios, exercises, and a challenge task to encourage critical thinking about pricing strategies and their implications for revenue.