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Doubling prices would double (incremental) revenue.
No it wouldn't, because with those higher prices, you'd have fewer sales.

Edit: Incremental revenue? Okay, that it would double, but so what?

Wages obviously aren't the only significant cost is all. I was being chippy with the first comment about revenue, because that's the corner the other poster decided to argue from, that wages are the most significant cost (which I combined with their earlier implication that doubling wages would nearly double prices, a statement that implies the starting wages more or less match the starting revenue).