Life expectancy at birth is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.

Total economic profit is

A) total revenue minus total opportunity cost. B) total revenue divided by total cost. C) marginal revenue minus marginal cost. D) marginal revenue divided by marginal cost.

If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price inelastic.

Answer the following statement true (T) or false (F)