Microeconomics Graphs

Practice Questions

AP Microeconomics › Microeconomics Graphs

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1

Suppose that the price of Good Y increases by 5%. If the quantity supplied of Good Y remains constant, then the price elasticity of supply of Good Y is ________.

2

Use the following graph for questions 9 - 11Oranges_demand_curve

Increasing the price of oranges at point D will result in:

  1. An increase in total revenue
  2. A decrease in quantity demanded
  3. Movement toward a portion of the demand curve that is more elastic
3

Use the following graph for questions 9 - 11Oranges_demand_curve

Increasing the price of oranges at point D will result in:

  1. An increase in total revenue
  2. A decrease in quantity demanded
  3. Movement toward a portion of the demand curve that is more elastic
4

Which of the following is true of the relationship between the demand curve and the marginal revenue curve in a monopolistic structure?

5

Suppose that the price of Good Y increases by 5%. If the quantity supplied of Good Y remains constant, then the price elasticity of supply of Good Y is ________.

6

Use the following graph for questions 9 - 11Oranges_demand_curve

Increasing the price of oranges at point D will result in:

  1. An increase in total revenue
  2. A decrease in quantity demanded
  3. Movement toward a portion of the demand curve that is more elastic
7

Which of the following is true of the relationship between the demand curve and the marginal revenue curve in a monopolistic structure?

8

Which of the following is true of the relationship between the demand curve and the marginal revenue curve in a monopolistic structure?

9

Suppose that the price of Good Y increases by 5%. If the quantity supplied of Good Y remains constant, then the price elasticity of supply of Good Y is ________.

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?

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