AP Microeconomics, 2014-2015 Edition by Eric Dodge

By Eric Dodge

Get prepared on your AP examination with this simple and easy-to-follow research advisor, up to date for the entire most up-to-date examination changes!

5 Steps to a five: AP Microeconomics positive aspects an efficient, 5-step plan to steer your practise application and assist you construct the talents, wisdom, and test-taking self assurance you want to prevail. This totally revised version covers the newest path syllabus and offers version exams that mirror the newest model of the exam.

Inside you are going to find:

  • 5-Step Plan to an ideal five: 1. arrange Your learn application 2. make certain Your try Readiness three. improve concepts for achievement four. enhance the information you want to rating excessive five. construct Your Test-Taking self assurance
  • 2 whole perform AP Microeconomics assessments
  • 3 separate plans to suit your research sort
  • Review fabric up to date and geared to the latest exams
  • Savvy details on how exams are built, scored, and used

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Extra resources for AP Microeconomics, 2014-2015 Edition

Example text

E—Monopolistic competition is characterized by product differentiation. One way that firms differentiate their products and protect market share is through extensive advertising. 17. B—The shutdown point is at minimum AVC. If the price falls below this point, the firm finds it rational to produce nothing in the short run and incur losses equal to TFC. 18. C—When the price rises, the perfectly competitive firm finds a higher level of output where P = MR = MC. Since this price lies above the ATC curve, positive economic profits are possible.

_____ _____ _____ _____ Review Chapters 5 to 11—all the material! Take Practice Exam 2. Score yourself. Get a good night’s sleep before the exam. Fall asleep knowing that you are well prepared. GOOD LUCK ON THE TEST! How to Plan Your Time ‹ 15 Plan B: You Have One Semester to Prepare If you have already completed one semester of economic studies, the following plan will help you use those skills you’ve been practicing to prepare for the May exam. JANUARY–FEBRUARY _____ Carefully read Chapters 1 to 4 of this book.

C) $6 and 20. (D) $7 and 30. (E) $8 and 40. 27. If the above firm were a monopsonist, the wage would be _________ and employment would be _________ the competitive outcome. (A) greater than; less than (B) less than; greater than (C) greater than; greater than (D) less than; less than (E) less than; the same as 28. Which of the following is the best example of a public good? (A) A visit to the orthodontist (B) A session at the tanning salon (C) A large pizza (D) A cup of coffee (E) The Hubble Space Telescope 29.

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