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2010 AP Microeconomics Free-Response Questions Free Download

2010 AP 微观经济简答题部分免费下载

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1)Assume that corn is produced in a perfectly competitive market. Farmer Roy is a typical producer of corn.

  1. Assume that Farmer Roy is making zero economic profit in the short run. Draw a correctly labeled side-byside graph for the corn market and for Farmer Roy and show each of the following.
    1. The equilibrium price and quantity for the corn market, labeled as PM1 and QM1, respectively
    2. The equilibrium quantity for Farmer Roy, labeled as QF1
  2. For Farmer Roy’s corn, is the demand perfectly elastic, perfectly inelastic, relatively elastic, relatively inelastic, or unit elastic? Explain.
  3. Corn can be used as an input in the production of ethanol. The demand for ethanol has significantly increased.
    1. Show on your graph in part (a) the effect of the increase in demand for ethanol on the market price and quantity of corn in the short run, labeling the new equilibrium price and quantity as PM2 and QM2, respectively.
    2. Show on your graph in part (a) the effect of the increase in demand for ethanol on Farmer Roy’s quantity of corn in the short run, labeling the quantity as QF2.
    3. How does the average total cost for Farmer Roy at QF2 compare with PM2?
  4. Corn is also used as an input in the production of cereal. What is the effect of the increased demand for ethanol on the equilibrium price and quantity in the cereal market in the short run? Explain.

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2010 AP Microeconomics(Form B) Free-Response Questions Free Download

2010 AP 微观经济(Form B)简答题部分免费下载

此套题共计时60分钟

3题

每道大题可能含有不同数量的小题

建议前10分钟读题50分钟答题

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2010 AP Microeconomics(Form B) FRQ真题

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