AP Microeconomics - Side-by-Side Graphs

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

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

3

Use the following graph for questions 9 - 11 Oranges_demand_curve

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

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

4

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 ________.

5

Use the following graph for questions 9 - 11 Oranges_demand_curve

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

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

6

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

7

Which of the following statements describes price discrimination?

8

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?

9

Oranges_demand_curve

The demand for oranges at point D is:

10

Which of the following statements describes price discrimination?

Side-by-Side Graphs

Practice Questions