Producers
Elasticities
Graphs
XISHAN Randomness!
AP Randomness!
100
This is only true in the short run.
At least one resource is fixed.
100
If elasticity of demand approaches 0, the demand curve becomes more
inelastic
100
This problem happens when Qd > Qs.
shortage
100
What is the room number of the economics classroom?
1403
100
Which company creates the AP Exams?
College Board
200
The definition of MP is the increase in
total product from one more unit of labor.
200
The bottom part of the midpoint formula is
change in P / average P
200
If a good has a surplus, the market would be pressured to
lower the good’s price
200
Who wrote our economics textbook?
Krugman
200
The SAT and ACT are exams for entering college. The letters ACT mean
American College Testing
300
TC / ATC =
Q
300
If demand is elastic a rise in price will cause total revenue to
decrease
300
The slope of the PPC represents the
opportunity cost
300
Which foreign teacher has been at XISHAN the longest?
Mr. Raja
300
The 2017 AP Micro Exam is at what time?
8AM
400
If MP is positive and decreasing, describe what is happening to TP.
TP is increasing slowly.
400
If cross elasticity is negative, then we know this good is a...
complement
400
The government sets a price ceiling. Charging any higher price would be called a
black-market price
400
How many years has Mr. Jeffrey taught at XISHAN? (including this year)
4
400
The 2017 AP Micro Exam is on what month and date?
May 12
500
The difference between long run and very long run is
whether technology can vary.
500
A good is inferior. Which elasticity formula can show this and what must be true about the formula?
income elasticity positive % change in Q / negative % change in income negative % change in Q / positive % change in income
500
A budget line is similar to what type of PPC?
a PPC with constant opportunity cost
500
How many students are studying AP Microeconomics this year?
43
500
What score are you going to get on the AP Micro Exam?
5!
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