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AP Microeconomics Exam Sample Questions

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ap microeconomics questions practice

In this test you have to answer ap microeconomics exam practice questions. To get pass test ap microeconomics you must answers correct. So Enjoy these practice exam questions ap microeconomics to get enough knowledge for ap microeconomics practice test 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

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Q:1-Consider the following scenario: Alex and Carl both make juice in their homes. Each week, Alex can make either 10 gallons of apple juice or 5 gallons of orange juice. Meanwhile, Carl, can make either 3 gallons of apple juice or 4 gallons of orange juice.
Based on the above, what must be the case?
Mark one answer:
Alex has a comparative advantage in making apple juice, Carl has a comparative advantage in making orange juice
Alex has a comparative advantage in making orange juice, Carl has a comparative advantage in making apple juice
Carl has an absolute advantage in making both apple juice and orange juice.
Alex has an absolute advantage in making apple juice but not in making orange juice.

Q:2-Consider the following scenario: Alex and Carl both make juice in their homes. Each week, Alex can make either 10 gallons of apple juice or 5 gallons of orange juice. Meanwhile, Carl, can make either 3 gallons of apple juice or 4 gallons of orange juice.
What does it cost Alex to produce 1 gallon of apple juice?
Mark one answer:
2 gallons of orange juice
1/2 gallon of orange juice
3/4 gallon of orange juice
4/3 gallon of orange jucie

Q:3-The following question is based on this table:
04-03 ap microeconomics exam questions
What is the marginal cost of producing the fourth good?
Mark one answer:
1
2
3
4

Q:4-The following question is based on this table:
04-04 ap microeconomics exam questions
What production level maximizes the firm's profits?
Mark one answer:
4
3
2
Impossible to determine from the given information.

Q:5-Use the following table to answer this question:
04-05 ap microeconomics exam questions
If the firm decides to produce 10 goods, what would be its average fixed cost?
Mark one answer:
$20
$60
$50
$10

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Q:6-Which of the following market structures is characterized by low barriers to entry, homogeneous products, and a large number of firms?
Mark one answer:
Oligopoly
Monopoly
Monopolistic Competition
Perfect Competition

Q:7-For which of the following market structures is demand always equal to marginal revenue?
Mark one answer:
Oligopoly
Monopolistic competition
Perfect competition
Monopoly

Q:8-Assume the firm operates in the short-run. Use the following chart for questions 1-5:
04-08 ap microeconomics exam questions
What is the fixed cost of the firm?
Mark one answer:
62
25
3
18

Q:9-Assume the firm operates in the short-run. Use the following chart for questions 1-5:
04-09 ap microeconomics exam questions
The profit maximizing level of output for this firm is:
Mark one answer:
4
3
2
1

Q:10-Assume the firm operates in the short-run. Use the following chart for questions 1-5:
04-10 ap microeconomics exam questions
Assuming the firm is perfectly competitive, what is the price that the firm would charge for widgets at the profit maximizing point?
Mark one answer:
5
9
11
7


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