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AP Microeconomics practice questions

Original, AI-authored English practice with worked guidance. Selected topics only; independent teacher review is pending. This is not a complete syllabus, official past-paper collection or predicted exam score. SubjectScout is not affiliated with or endorsed by College Board. SAT practice is not a full adaptive test; AP practice does not simulate an entire exam.

17 original questions across 6 selected topic areas. No account or payment required to practise.

Official AP framework reference (framework only, not a source of copied questions).

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Question 1 · Unit 1: Basic Economic Concepts · standard
With the same daily resources, Rowan can make either 12 stools or 6 desks; Sora can make either 8 stools or 8 desks. Assume straight-line production possibilities and constant opportunity costs. Who has comparative advantage in desks?
Question 2 · Unit 2: Supply and Demand · foundation
In a competitive bicycle market, consumer incomes rise and bicycles are a normal good. Supply is unchanged and upward sloping; demand is downward sloping. Other determinants are constant. What happens to equilibrium price and quantity?
Question 3 · Unit 2: Supply and Demand · challenge
Along an unchanged demand curve, price rises from $8 to $12 and quantity demanded falls from 120 to 80. Using midpoint percentage changes, what is the absolute price elasticity of demand over this interval?
Question 4 · Unit 3: Production, Cost, and the Perfect Competition Model · standard
A price-taking firm has rising marginal cost and can vary output continuously. At its positive MR = MC output of 50 units, price is $14, AVC is $10, and ATC is $18. This output maximizes operating profit, and fixed costs are unavoidable in the short run. What should the firm do now?
Question 5 · Unit 4: Imperfect Competition · challenge
A single-price monopolist faces inverse demand P = 60 - Q and marginal revenue MR = 60 - 2Q. Marginal cost is constant at $12 and fixed cost is zero. Output is continuous. What quantity and price maximize profit?
Question 6 · Unit 5: Factor Markets · standard
A firm sells output in a perfectly competitive market for $5 per unit and hires workers at a competitive wage of $45 per day. With other inputs fixed, successive workers add 14, 11, 8, and 5 units per day; later workers add still fewer. How many workers maximize profit?
Question 7 · Unit 6: Market Failure and the Role of Government · challenge
In a competitive market, marginal private benefit is 50 - Q and marginal private cost is 10 + Q, in dollars per unit. Production imposes a constant $8 marginal external cost, with no external benefits. Output is continuous. Which quantity and per-unit corrective tax achieve efficiency in this model?
Question 8 · Unit 2: Supply and Demand · challenge
A competitive market has Qd = 100 - 2Pc and Qs = 4Ps - 20, where Pc is the price buyers pay and Ps is the price sellers receive. A $6 per-unit tax on sellers creates Pc = Ps + 6. With these curves otherwise unchanged, what are the new prices?
Question 9 · Unit 2: Supply and Demand · standard
A competitive market has Qd = 100 - 2P and Qs = 4P - 20. An enforced price ceiling sets P = $15. Assume no black market and no other changes. What shortage results?
Question 10 · Unit 2: Supply and Demand · standard
A competitive market has inverse demand P = 50 - Q and inverse supply P = 10 + Q. Quantity is continuous, with no taxes, externalities, or trade. What are consumer surplus and producer surplus at equilibrium?
Question 11 · Unit 6: Market Failure and the Role of Government · challenge
Consumption has marginal private benefit MPB = 40 - Q and constant marginal external benefit $12 per unit. Marginal private and social cost both equal 4 + Q. In a competitive market with continuous output and no other distortions, which quantity is efficient and which per-unit consumption subsidy implements it?
Question 12 · Unit 2: Supply and Demand · challenge
A small importing country has Qd = 100 - 2P and Qs = 2P. World price is $10. A $5 per-unit import tariff raises domestic price to $15 while world price stays fixed. Assume competitive markets, continuous quantities, no externalities, and no other distortions. What are tariff revenue and national deadweight loss relative to free trade?
Question 13 · Unit 1: Basic Economic Concepts · standard
Under constant opportunity costs, country A gives up 2 units of coffee to make one unit of tea, while country B gives up 4 units of coffee to make one unit of tea. Ignoring transport costs, which terms of trade give both countries a strict gain when A exports tea to B?
Question 14 · Unit 3: Production, Cost, and the Perfect Competition Model · standard
With capital fixed, a firm's total daily output with 0, 1, 2, 3, and 4 workers is respectively 0, 9, 21, 30, and 36 units. With the hiring of which worker does diminishing marginal product first appear?
Question 15 · Unit 5: Factor Markets · foundation
Demand for an industry's output increases, raising its competitive output price. Worker productivity is unchanged. The industry's labor supply is unchanged and upward sloping; labor demand is downward sloping. Other determinants are fixed. What is the predicted change in the competitive labor market?
Question 16 · Unit 5: Factor Markets · challenge
A monopsonist must pay all workers the same wage. Its labor supply is w = 10 + L, marginal factor cost is MFC = 10 + 2L, and marginal revenue product is MRP = 40 - L. Treat labor as continuous and assume no minimum wage. Which employment and wage maximize profit?
Question 17 · Unit 4: Imperfect Competition · challenge
Two firms independently choose High or Low price once. Profits (A, B) are: both High (8, 8); A Low and B High (11, 3); A High and B Low (3, 11); both Low (5, 5). There are no agreements or later rounds. Which pair is the Nash equilibrium?

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