Search Header Logo

AP Microeconomics Review Exam

Authored by John Robinson

Social Studies

12th Grade

Used 2+ times

AP Microeconomics Review Exam
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the term for the principle that suppliers will normally offer more for sale at higher prices and less at lower prices?

law of supply

supply schedule

law of demand

market demand

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

____ is the struggle between buyers and sellers to get the best products at the lowest prices.

Competition

Productivity

Free enterprise

Economic freedom

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The graph below is an example of a

Demand Schedule

Demand Curve

Supply Schedule

Supply Curve

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The table below is an example of a

Supply Schedule

Supply Curve

Demand Curve

Demand Schedule

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

For the graph shown here, if the firm were regulated to the socially optimal / allocatively efficiency output and price the firm would produce at ___ and charge ___

Q2 ; P2

Q2 ; P3

Q1 ; P1

Q1 ; P2

Q1 ; P4

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If this single price monopolist could now perfectly price discriminate it would produce at ___ and charge ___

Q2 ; P2

Q2 ; P3

Q1 ; P1

Q1 ; P2

Q1 ; P4

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If this monopolist is given a per unit subsidy, what would happen to amount of consumer surplus?

increase due to MC shifting right and price falling

decrease due to MC shifting right and price rising

increase due to ATC shifting right and price falling

decrease due to ATC shifting right and price rising

not change

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?