Competition

Practice Questions

AP Microeconomics › Competition

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1

If the total product of labor increases at an increasing rate, _________ .

2

The following question is based on this table:

Screen_shot_2014-01-30_at_10.24.12_am

What is the marginal cost of producing the fourth good?

3

If the United States trades computers in exchange for cars from Germany, what must be true?

4

If the United States trades computers in exchange for cars from Germany, what must be true?

5

If the United States trades computers in exchange for cars from Germany, what must be true?

6

The following question is based on this table:

Screen_shot_2014-01-30_at_10.24.12_am

What is the marginal cost of producing the fourth good?

7

If the total product of labor increases at an increasing rate, _________ .

8

If the total product of labor increases at an increasing rate, _________ .

9

The following question is based on this table:

Screen_shot_2014-01-30_at_10.24.12_am

What is the marginal cost of producing the fourth good?

10

Compared to a perfectly competitive market, a monopolist produces...

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