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AP Microeconomics Practice Test

Free ap microeconomics online practice tests to pass ap microeconomics test. For ap microeconomics practice exam you must go through real exam. For that we provide sample ap microeconomics exam questions real test. We discuss in these ap microeconomics questions from different topics like ap microeconomics test, ap microeconomics study material free download .

ap microeconomics exam study guide

In this test you have to answer ap microeconomics self assessment exam. To get pass ap microeconomics training you must answers correct. So Enjoy these ap microeconomics certification review course to get enough knowledge for ap microeconomics books free download attempt. You will get mock test answers after click submit button at bottom. If any question wrong just click on go back button to correct it. Easy Na!

AP Microeconomics Practice Questions Free

ap microeconomics practice test free ap microeconomics flashcards

Q:1-Refer to the following chart for this question:
02-01 ap microeconomics exam questions
If each product is sold for $2, and each unit of labor costs $10, how many units of labor will the firm hire?
Mark one answer:
one
two
three
four

Q:2-In a game with two or more players, a dominant strategy refers to a strategy that _____.
Mark one answer:
results in a larger payoff than any other strategy except when another player has a dominant strategy as well.
results in a smaller payoff than any other strategy except when another player has a dominant strategy as well.
results in a smaller payoff than any other strategy regardless of the strategies chosen by any other players.
results in a larger payoff than any other strategy regardless of the strategies chosen by any other players.

Q:3-Which of the following is true of the relationship between the demand curve and the marginal revenue curve in a monopolistic structure?
Mark one answer:
The demand curve is always greater than the marginal revenue curve.
The marginal revenue curve decreases while the demand curve increases.
The demand curve is always less than or equal to the marginal revenue curve.
The demand curve is always greater than or equal to the marginal revenue curve.

Q:4-When marginal cost is greater than average total cost, which of the following must be true?
Mark one answer:
Average total cost must be decreasing.
Marginal revenue must be increasing.
Average total cost must be increasing.
Total revenue must be constant.

Q:5-If good X and good Y are substitutes, an increase in the price of good X will lead to which of the following?
Mark one answer:
a decrease in demand for good Y
an increase in demand for good Y
an increase in supply for good Y
a decrease in supply for good Y

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Q:6-For any firm, the long run refers to a period of time in which _____.
Mark one answer:
fixed costs are able to change
the price elasticity of supply is able to change
variable costs are able to change
sunk costs are able to change

Q:7-To maximize profits, firms produce at the level at which _____.
Mark one answer:
marginal revenue equals average variable cost
marginal revenue equals average total cost
marginal revenue is less than marginal cost
marginal revenue equals marginal cost

Q:8-As consumption of a particular good increases, the satisfaction gained from consuming one additional unit of the good eventually _____.
Mark one answer:
decreases
increases
equals 1
equals 0

Q:9-Suppose a consumer finds that her total expenditure on good X increases after her income decreases. Which of the following is true?
Mark one answer:
Good X is a luxury good for the consumer.
The income elasticity of good X for the consumer is 1.
Good X is a normal good for the consumer.
Good X is an inferior good for the consumer.

Q:10-Suppose that as result of a 10% increase in income, the quantity demanded of Good X increases by 20%. Which of the following is true?
Mark one answer:
The income elasticity of demand for Good X is greater than 1.
The income elasticity of demand for Good X is less than 0.
The income elasticity of demand for Good X is between 0 and 1.
The income elasticity of demand for Good X is equal to 1.


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