If a large percentage of economic activity in developing countries is unrecorded, then the countries are likely to rely on which of the following taxes to provide government revenue?

The deadweight loss caused by the monopoly market structure is equal to the loss of total surplus resulting from the good being sold by a monopolist rather than in a competitive market

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

If demand increases, the increase in price will be smaller if demand and supply are highly inelastic.

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