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.