By Brian Reddington
Organized for simple reference and an important perform, insurance of all of the crucial themes awarded as 500 AP-style questions with exact solution explanations
5 Steps to a five: 500 AP Microeconomics/Macroeconomics inquiries to comprehend by way of attempt Day is adapted to fulfill your research needs—whether you have got left it to the final minute to arrange otherwise you were learning for months. you'll take advantage of going over the questions written to parallel the subject, layout, and measure of hassle of the questions inside the AP examination, followed by means of solutions with finished explanations.
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Additional resources for 500 Must-Know AP Microeconomics/Macroeconomics Questions
An airline may identify a specific group of people and charge them a different rate. This is known as (A) a monopolistic competition (B) price discrimination (C) diseconomies of scale (D) constant returns to scale (E) illegal by current federal laws 149. Price discrimination might be successful if (A) the firm can prevent resale to other consumers and identify and separate groups of consumers (B) the firm does not have a monopoly on the pricing power of the good or service (C) the firm has a monopoly on pricing power but cannot prevent resale to other consumers (D) the firm does not have economies of scale (E) the firm is operating within government regulations 150.
A) Differentiate products (B) Raise prices (C) Cut TFC (D) Lay off workers (E) Shut down 121. The profit-maximizing rule states that to maximize profits a firm should produce where (A) MR = MC (B) MR > MC (C) MR < MC (D) MB > MC (E) MB = MC 122. When there is zero incentive for more firms to enter a perfectly competitive market, it is said that the market has reached (A) constant returns to scale (B) economies of scale (C) diseconomies of scale (D) long-run equilibrium (E) none of the above 123.
B) Price decreases as more firms enter the market. (C) Price increases as more firms enter the market. (D) Profits decrease as price increases. (E) None of the above 118. Richard and Michelle enjoy going to the museum. During the month of April, the museum is exhibiting works on 20th-century feminism and is offering the admission price to women as half off. Richard must pay full price for admission. This is an example of (A) dead weight loss (B) variable costs (C) price discrimination (D) market power (E) sex discrimination 119.
500 Must-Know AP Microeconomics/Macroeconomics Questions by Brian Reddington