AP ® MICROECONOMICS 2019 SCORING COMMENTARY . Question 1 (continued) Sample: 1B Score: 5 . The response earned 1 point in part (a) for drawing a downward-sloping demand curve and a downward-sloping
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Explain. During the month of July, demand increases so that Joyce now earns a positive economic profit. However, she realizes her profits would have been higher if she had reduced the price of gasoline. -At the quantity sold in July, was marginal revenue greater than, equal to, or less than marginal cost?
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Correct Answers: The diagram above illustrates the graphs for a monopoly and a competitive firm earning short-run economic profits. The areas of economic profits are shaded with horizontal lines. The competitive firm is a price taker with a horizontal demand curve determined by the market equilibrium price.
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SOLVED: Joyce owns a gas station and monopolizes gas sales along a remote stretch of road. In February, Joyce stayed open even though she earned negative economic profits. (a) Draw a correctly 1. As the only gas station in a small town, FillUp has a local monopoly on the sale of gasoline. FillUp is currently earning positive economic profit. (a) Draw a correctly labeled graph for FillUp and show each of the following. (i) FillUp’s profit-maximizing quantity, labeled QF. (ii) FillUp’s profit-maximizing price, labeled PF.
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Joyce Owns A Gas Station And Monopolizes
1. As the only gas station in a small town, FillUp has a local monopoly on the sale of gasoline. FillUp is currently earning positive economic profit. (a) Draw a correctly labeled graph for FillUp and show each of the following. (i) FillUp’s profit-maximizing quantity, labeled QF. (ii) FillUp’s profit-maximizing price, labeled PF. SOLVED: 1. Joyce owns a gas station and monopolizes gas sales along a remote stretch of road.
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Question 1 9 points (5 + 1 + 1 + 2) (a) 5 points: • One point is earned for drawing a correctly labeled graph for a monopoly showing a downward sloping demand (D) curve with the marginal revenue (MR) curve below the demand curve. How did you get your pet? – Quora
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Pre-budget | Citizens for Public Justice Question 1 9 points (5 + 1 + 1 + 2) (a) 5 points: • One point is earned for drawing a correctly labeled graph for a monopoly showing a downward sloping demand (D) curve with the marginal revenue (MR) curve below the demand curve.
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CryptoLlama #905 – Llama Adventure Club | OpenSea AP ® MICROECONOMICS 2019 SCORING COMMENTARY . Question 1 (continued) Sample: 1B Score: 5 . The response earned 1 point in part (a) for drawing a downward-sloping demand curve and a downward-sloping
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SOLVED: Joyce owns a gas station and monopolizes gas sales along a remote stretch of road. In February, Joyce stayed open even though she earned negative economic profits. (a) Draw a correctly Correct Answers: The diagram above illustrates the graphs for a monopoly and a competitive firm earning short-run economic profits. The areas of economic profits are shaded with horizontal lines. The competitive firm is a price taker with a horizontal demand curve determined by the market equilibrium price.
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In the News | Page 14 of 19 | Citizens for Public Justice Contents Exam Instructions Student Answer Sheet for the Multiple-Choice Section Section I: Multiple-Choice Questions Section II: Free-Response Questions
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Featured 2 | Citizens for Public Justice 1. As the only gas station in a small town, FillUp has a local monopoly on the sale of gasoline. FillUp is currently earning positive economic profit. (a) Draw a correctly labeled graph for FillUp and show each of the following. (i) FillUp’s profit-maximizing quantity, labeled QF. (ii) FillUp’s profit-maximizing price, labeled PF.
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CryptoLlama #808 – Llama Adventure Club | OpenSea SOLVED: 1. Joyce owns a gas station and monopolizes gas sales along a remote stretch of road.
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Pre-budget | Citizens for Public Justice
CryptoLlama #808 – Llama Adventure Club | OpenSea Explain. During the month of July, demand increases so that Joyce now earns a positive economic profit. However, she realizes her profits would have been higher if she had reduced the price of gasoline. -At the quantity sold in July, was marginal revenue greater than, equal to, or less than marginal cost?
SOLVED: Joyce owns a gas station and monopolizes gas sales along a remote stretch of road. In February, Joyce stayed open even though she earned negative economic profits. (a) Draw a correctly Featured 2 | Citizens for Public Justice Contents Exam Instructions Student Answer Sheet for the Multiple-Choice Section Section I: Multiple-Choice Questions Section II: Free-Response Questions
