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Lecture Slides are screen-captured images of important points in the lecture. Students can download and print out these lecture slide images to do practice problems as well as take notes while watching the lecture.
 | Author: Eric Dodge ISBN: 0071803157 Publisher: McGraw-Hill Year: 2013 This book created a 5-step plan to help you study more effectively, use your preparation time wisely, and get your best score. This book includes two full-length practice exams modeled on the real test, all the terms and concepts you need to know to get your best score, and your choice of three customized study schedules. |
 | Authors: Frank Musgrave Ph.D., Elia Kacapyr Ph.D. ISBN: 764147005 Publisher: Barron's Educational Series Year: 2012 This book includes an in-depth preparation for both AP economics exams. It features two full-length practice tests, one in Microeconomics and one in Macroeconomics, and all test questions answered and explained. It also features a detailed review of all test topics, which include: supply and demand, theory of consumer choice, economics in the public sector, costs, perfect and imperfect competition, monopolies, labor resources, game theory, the national income and gross domestic product, inflation and unemployment, fiscal policy, money and banking, monetary policy, economic growth, international trade and exchange, interest rate determination, and the market for loanable funds. |
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1 answer
Thu Mar 15, 2018 10:44 PM
Post by Grace Shen on March 15 at 07:43:51 PM
Hi Profesor,
For example 3 under the midpoint method, if two slices of pizza are $4, wouldn't the price for one just be $2? Therefore, shouldn't the total revenue be 2times 10? Thanks!
1 answer
Sat Oct 15, 2016 3:25 PM
Post by derui wang on October 6, 2016
When e?1? demand is still elastic??? Isn't it inelastic?
1 answer
Wed Jun 1, 2016 5:11 PM
Post by Mohsin Alibrahim on May 26, 2016
Hello Professor Park
Is unit Elastic point where elasticity equal 1 ?
2 answers
Last reply by: Irene Chia
Tue Sep 15, 2015 12:42 AM
Post by Jim Tang on July 19, 2015
prob super picky question, but i believe ur best suited to answer this since you've been grading these ap exams for a long time!
in the lecture, you wrote (4-5)/4 = | -1/4 |, which, in itself, is not a true mathematical statement. though most people will understand how the absolute values factors into elasticity of demand, do graders take off points bc of small mathematical mishaps?
1 answer
Sun Jul 19, 2015 10:02 PM
Post by Jim Tang on July 19, 2015
for example 3, are you assuming that the price of two slices is $5? is it better to use $/slice bc $/2 slices?
3 answers
Tue Nov 10, 2015 12:06 PM
Post by Jim Tang on July 19, 2015
wait, shouldn't it say if e<1, then demand is inelastic?
2 answers
Last reply by: Siyun Liu
Thu Feb 5, 2015 7:59 PM
Post by Siyun Liu on February 4, 2015
In example 2, since Q1=200, doesn't e equal 1? If so, isn't this product's total revenue supposed to remain the same? So how comes the total revenue decreased after the rise in price?
Thank you!
1 answer
Mon Jan 12, 2015 5:21 PM
Post by Carlos islas on November 19, 2014
In example #1 shouldn't your TR2 be p*q=$80*100=8000?
1 answer
Tue Nov 4, 2014 6:41 PM
Post by Rebecca Dai on November 4, 2014
Professor,
I saw a different function in text book. E of demand= (change in Q/((Q1+Q2)/2))/change in P/((P1+P2)/2). And I plugged in some real numbers and got different results from the function you talks about in the lecture. Which one is right? Thanks!
1 answer
Wed Oct 22, 2014 5:38 PM
Post by Rebecca Dai on October 21, 2014
Where can I get past ap exam paper? Could you send them to me if you have it? Thanks
2 answers
Tue Oct 21, 2014 5:27 PM
Post by Rebecca Dai on October 21, 2014
Does unit-elastic only refer to the point instead of a segment? Thanks.
1 answer
Tue Oct 21, 2014 5:07 PM
Post by Rebecca Dai on October 21, 2014
In the factor of time that determines elasticity demand, is it very similar to the substitute? Because people tend to have more substitute over time.
2 answers
Tue Oct 21, 2014 5:07 PM
Post by Rebecca Dai on October 21, 2014
What does elasticity demand represent? What does it tell us literally? Thanks.
2 answers
Tue Oct 21, 2014 5:03 PM
Post by Rebecca Dai on October 21, 2014
1. What is two ways of calculating PED contradict each other? Like one proves it's elastic and the other one proves it's not.
2. If E is 1, is it neither elastic nor inelastic?
Thank you!
1 answer
Mon Aug 11, 2014 2:21 PM
Post by Tyler Zhang on August 11, 2014
So for questions where the elasticity is asked, there are two possible answers? One from the regular elasticity formula and one from the midpoint method..will both be marked correct?
1 answer
Thu Aug 7, 2014 7:12 PM
Post by Tyler Zhang on August 7, 2014
Why are there two different values for elasticity when using the midpoint formula as opposed to using the price elasticity of demand formula? What do each of the numbers mean? Which method is more accurate?
1 answer
Wed Aug 6, 2014 3:56 PM
Post by Tyler Zhang on August 6, 2014
For example 1, why are the revenues not 8000 and 9000? Why are they both 9000..
0 answers
Post by Harshil Bansal on May 5, 2014
Where can I get a bank of multiple choice questions to practice from?
0 answers
Post by Professor Jibin Park on April 23, 2014
Hello, there, Educator community. Have a great day!
1 answer
Sun Jan 12, 2014 6:58 PM
Post by Jessie Xiao on January 12, 2014
what happens when elasticity of demmand equals 1?
1 answer
Sun Jan 12, 2014 6:54 PM
Post by Jessie Xiao on January 12, 2014
you made mistakes in example 1 and 2