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Which of the following statements is TRUE? Select one: O a. The value of tax t is added to the demand function to maximize
Which of the following statements is TRUE? Select one: O a. The value of tax t is added to the demand function to maximize the tax revenue. O b. If demand is of unitary elastic then increasing price will increase revenue. O c. If demand is elastic, then decreasing price will increase the revenue. d. The optimal level of production is the level of production at which the revenue is maximum. O e. None
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