Exhibit 8-2 Demand and cost information for a monopoly
Q
P
TC
0
40
10
1
30
15
2
20
25
3
10
40
4
  0
60
Refer to Exhibit 8-2. Using the rule that focuses on the marginal approach to maximizing profits, the monopolist maximizes profit by choosing price equal to:

The aggregate supply curve of an economy: a. is a downward-sloping straight line

b. is an upward-sloping curve. c. is a vertical line parallel to the price axis. d. is a horizontal line parallel to the output axis. e. is a ray from the origin.

Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth

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