Which of the following statements are true about revenue? Select all that apply: Responses Revenue is price times quantity Revenue is price times quantity The total revenue obtained from selling a particular item can be found by adding the total profits for that item to its total cost. The total revenue obtained from selling a particular item can be found by adding the total profits for that item to its total cost. To maximize revenue set the elasticity equation E(p)=1 To maximize revenue set the elasticity equation E(p)=1 If the demand of a commodity is elastic, then raising the value of that commodity will increase the revenue for the commodity. If the demand of a commodity is elastic, then raising the value of that commodity will increase the revenue for the commodity.
Ma1.
Which of the following statements are true about revenue? Select all that apply: Responses Revenue is
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