Transcription of AP Microeconomics 2016 Free-Response Questions
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AP Microeconomics 2016 Free-Response Questions
AP Microeconomics . 2016 Free-Response Questions 2016 The College Board. College Board, Advanced Placement Program, AP, AP Central, and the acorn logo are registered trademarks of the College Board. Visit the College Board on the Web: AP Central is the official online home for the AP Program: "1 .*$30&$0/0.*$4 '3&& 3&410/4& 26&45*0/4. Microeconomics . Section II. Total Time 60 minutes Reading Period 10 minutes Writing Period 50 minutes Directions: You are advised to spend the first 10 minutes reading all of the Questions and planning your answers.
(ii) Calculate the price elasticity of supply if the price increases from $1 to $1.20. Show your work. (iii) Between $1 and $1.20, is the supply elastic, unit elastic, or inelastic? Explain. (b) Bananas are an input for muffins. (i) Draw a correctly labeled graph of the market for muffins indicating the equilibrium price and quantity, labeled ...
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