Holding Everything Else Equal, Total Revenue Increases

question 129

Multiple Choice

Holding everything else equal, total revenue increases

• A)only when quantity increases.
• B)only when price increases.
• C)whenever total costs increase.
• D)when either price or quantity increase.
• E)only when both price and quantity increase.

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Definitions:

Income Statement

A financial statement showing a company's revenues, expenses, and profit or loss over a specific period.

Cost of Goods Sold

Expenses directly incurred from the creation of a company's sold goods, involving labor and materials.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income or loss for the period.

Sales

The transactions involved in selling goods or services to customers, generating revenue for a business.