In 2002, government expenditures as a percentage of GDP were lowest for which country?

To maximize sales revenue, an oligopolist will expand output until the marginal revenue curve cuts the horizontal axis

a. True b. False Indicate whether the statement is true or false

What would happen if three more restaurants opened in a small town where only four restaurants were open for business originally?

A. People would pay higher prices to eat out. B. The town would raise significantly more taxes. C. The restaurants would become more like a competitive market. D. The restaurants would form a cartel in the town.