AP Micro 2019 FRQ Set 1 #1 - Unit 4 - Monopoly, Deadweight Loss, Shut Down, Change in Fixed Costs
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- Опубліковано 5 жов 2024
- This video goes over how to answer question #1 from the 2019 Set 1 Microeconomics Exam. This questions aligns best with Unit 4 from the AP Micro Course Exam Description.
You can find the question here:
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You can find the scoring guide here:
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thanks for saving my grade
You're welcome. Good luck!
Hi sir could you please answer this question (Suppose a firm has market power and faces a downward sloping demand curve for its product, and its marginal cost curve is upward sloping.
If the firm reduces its price, then consumer surplus increases, producer surplus may increase or decrease. Explain this statement with a graph.)
Hi there! As a teacher I don't feel comfortable explicitly answering such a specific question. I'm guessing, it's something your teacher/professor wants you to figure out (through a bit of struggle).
But here is a link about producer and consumer surplus. Refer to the graph near the bottom with a monopoly. It shows consumer and producer surplus. It will help you see the impact of a price reduction.
Good luck!
www.reviewecon.com/surplus-dwl
@@ReviewEcon thank you
@@williamtrader2297 you're welcome!
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