Ap microeconomics unit 1 Study guides, Class notes & Summaries
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3.2: Production Costs in the Short and Long Runs
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AP Microeconomics notes from Unit 3, Section 1: 
 
These notes cover the short-run and long-run in economics, production costs, and types of economic costs.
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1.3: The Production Possibilities Curve (PPC)
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AP Microeconomics notes from Unit 1, Section 3: 
 
These notes cover the production possibilities curve, also known as the PPC. The PPC is a critical concept in economics that helps economists visualize the relationship between supply and demand.
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1.4: Cost-Benefit and Marginal Analysis
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AP Microeconomics notes from Unit 1, Section 4: 
 
These notes cover different types of economic analysis, including cost-benefit analysis and marginal analysis.
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5.1: Introduction to Factor Markets
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AP Microeconomics notes from Unit 5, Section 1: 
 
These notes cover the factors of production and the labor market.
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6.1: Market Economies
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AP Microeconomics notes from Unit 6, Section 1: 
 
These notes cover the "invisible hand" in free markets and market failures.
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3.1: The Production Function
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AP Microeconomics notes from Unit 3, Section 1: 
 
These notes cover the production function, inputs, outputs, product, variables, and other key concepts to understanding the production of goods and how it impacts the economy.
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ECON 201 Microeconomics Theory and Applications with Calculus Supply and Demand-2 ( LATEST UPDATE )
- Exam (elaborations) • 59 pages • 2021
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ECON 201 Microeconomics Theory and Applications with Calculus Supply and Demand-2 
Microeconomics: Theory and Applications with Calculus 
Supply and Demand 
 
2.1	Demand 
 
1)	Suppose the demand for Digital Video Recorders (DVRs) is given by Q=250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does demand for DVRs change if the p rises by $40? 
A)	drops by 10,000 DVRs 
B)	increases by 16,000 DVRs 
C)	d...
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ECON 201 Microeconomics Theory and Applications with Calculus Supply and Demand-2
- Exam (elaborations) • 59 pages • 2021
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ECON 201 Microeconomics Theory and Applications with Calculus Supply and Demand-2 
Microeconomics: Theory and Applications with Calculus 
Supply and Demand 
 
2.1	Demand 
 
1)	Suppose the demand for Digital Video Recorders (DVRs) is given by Q=250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does demand for DVRs change if the p rises by $40? 
A)	drops by 10,000 DVRs 
B)	increases by 16,000 DVRs 
C)	d...
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Introduction to Microeconomics (ECON 101)
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Introduction to Microeconomics (ECON 101)1) The p rice elasticity of d emand is a u nits- free measu re of the responsiveness of A) p rice to chan ges in qu an tity d eman d ed B) qu antity d eman d ed to ch anges in th e p rice of a substitu te or comp lement C) qu antity d emand ed to chan ges in the p rice of the good D) qu antity d emand ed to chan ges in income E) none of the above. An sw er: C 2) If a 10 p ercent rise in price lead s to an 8 p ercent d ecline in qu antity d emand ed , the ...
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ECON 1002: Microeconomics Final Exam (3) Complete Answers (spring 2020).
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ECON 1002: Microeconomics
Final


1.	The main determinant of elasticity of supply is the: 
A. 	number of close substitutes for the product available to consumers.
B. 	amount of time the producer has to adjust inputs in response to a price change.
C. 	urgency of consumer wants for the product.
D. 	number of uses for the product.

Use the following table to answer question 2
 
2.	Refer to the table. Over the $6-$4 price range, supply is: 
A. 	perfectly elastic.
B. 	elastic.
C. 	perfectly inelastic...
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