By Brian Reddington
Organized for simple reference and an important perform, insurance of all of the crucial issues provided as 500 AP-style questions with special solution explanations
5 Steps to a five: 500 AP Microeconomics/Macroeconomics inquiries to understand by means of try out Day is adapted to satisfy your research needs—whether you've gotten left it to the final minute to organize otherwise you were learning for months. you are going to make the most of going over the questions written to parallel the subject, structure, and measure of hassle of the questions inside the AP examination, followed by means of solutions with entire explanations.
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Additional resources for 500 Must-Know AP Microeconomics/Macroeconomics Questions
A) Dead weight loss (B) An increase in demand (C) An increase in supply (D) A price ceiling (E) A price floor 73. Dead weight loss refers to (A) the lost benefit to society caused by the movement away from the market equilibrium (B) the gained benefit to suppliers caused by the increase in the market equilibrium (C) the incremental benefit or loss when the consumer increases consumption by one additional unit (marginal utility) (D) the legal maximum price above which a product cannot be sold (price ceiling) (E) the legal minimum price below which a product cannot be sold (price floor) 74.
They browse the aisles of a toy store and come across two dolls. Both dolls are essentially the same in appearance, except Doll B is $5 more than Doll A. Deirdre ends up buying the more expensive doll because her daughter loves the designs on the box it comes in. This scenario illustrates (A) the power of a monopolistic competitive firm using advertising (B) MC = MB (C) price discrimination (D) collusive pricing (E) all of the above Use the following graph to answer question 151. 151. The preceding graph represents a short-run monopolistic equilibrium.
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