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← AP Microeconomics
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Prepare for the timed AP Microeconomics test.

Your answers are held until submission. The final review identifies the units that need another pass.

AP Microeconomics coverage and review map

Connect every question to the exact skill it rehearses. Work through the units in order, then return to any topic that still needs a hint or a second attempt.

01

Basic Economic Concepts

Scarcity, trade, marginal analysis

Goal: recognise a basic economic concepts problem from its wording, carry out the governing method, and check that the result is reasonable.

02

Supply and Demand

Equilibrium, controls, elasticity, welfare

Goal: recognise a supply and demand problem from its wording, carry out the governing method, and check that the result is reasonable.

03

Production, Cost, and Perfect Competition

Costs, profit, firm decisions

Goal: recognise a production, cost, and perfect competition problem from its wording, carry out the governing method, and check that the result is reasonable.

04

Imperfect Competition

Monopoly, oligopoly, game theory

Goal: recognise a imperfect competition problem from its wording, carry out the governing method, and check that the result is reasonable.

05

Factor Markets

Labor and resource demand

Goal: recognise a factor markets problem from its wording, carry out the governing method, and check that the result is reasonable.

06

Market Failure and Government

Externalities, public goods, inequality

Goal: recognise a market failure and government problem from its wording, carry out the governing method, and check that the result is reasonable.

AP Microeconomics questions with worked answers

These 8 questions are printed in full on this page and are drawn across all 6 course units. Nothing here is generated on the fly. Cover the options, solve each one on paper, and only then open the worked answer to compare your method with the one shown.

Question 1: Anna makes 10 chairs or 20 tables in a day. Ben makes 6 chairs or 6 tables. Who has the comparative advantage in chairs?

AP Microeconomics · Basic Economic Concepts

  1. Ben, because he gives up only 1 table per chair
  2. Anna, because she makes more chairs
  3. Ben, because he makes fewer of both
  4. Neither, the costs are the same
Show the worked answer
  1. Comparative advantage is about opportunity cost, not about who makes more.
  2. For Anna, 10 chairs cost 20 tables, so 1 chair costs 2 tables.
  3. For Ben, 6 chairs cost 6 tables, so 1 chair costs 1 table.
  4. Ben gives up less to make a chair, so he has the comparative advantage in chairs even though Anna makes more.

Answer: Ben, because he gives up only 1 table per chair

Question 2: A 20% price rise causes quantity demanded to fall 10%. What is the price elasticity of demand, and is demand elastic?

AP Microeconomics · Supply and Demand

  1. 0.5, so demand is inelastic
  2. 2.0, so demand is elastic
  3. 0.5, so demand is elastic
  4. 10, so demand is elastic
Show the worked answer
  1. Elasticity is the percent change in quantity divided by the percent change in price.
  2. 10 / 20 = 0.5, ignoring the minus sign.
  3. A value below 1 means quantity responds less than price does.
  4. So demand is inelastic, and total revenue rises when the price goes up.

Answer: 0.5, so demand is inelastic

Question 3: At a price ceiling, quantity demanded is 800 and quantity supplied is 500. What is the result?

AP Microeconomics · Supply and Demand

  1. A shortage of 300 units
  2. A surplus of 300 units
  3. A shortage of 1,300 units
  4. The market is in equilibrium
Show the worked answer
  1. Buyers want 800 units but sellers offer only 500.
  2. When demand exceeds supply the difference is a shortage.
  3. 800 - 500 = 300.
  4. That is a shortage of 300 units, the usual result of a binding price ceiling.

Answer: A shortage of 300 units

Question 4: Total cost is $600 at 50 units and $660 at 51 units. What are the average total cost at 50 units and the marginal cost of the 51st?

AP Microeconomics · Production, Cost, and Perfect Competition

  1. ATC $12 and MC $60
  2. ATC $12 and MC $12.94
  3. ATC $13 and MC $60
  4. ATC $60 and MC $12
Show the worked answer
  1. Average total cost is total cost divided by quantity.
  2. 600 / 50 = 12, so ATC is $12.
  3. Marginal cost is the extra cost of one more unit.
  4. 660 - 600 = 60, so MC is $60. Because MC is above ATC, average cost is rising.

Answer: ATC $12 and MC $60

Question 5: A competitive firm sells 200 units at $12 each with an average total cost of $9. What is its profit?

AP Microeconomics · Production, Cost, and Perfect Competition

  1. $600
  2. $2,400
  3. $1,800
  4. $3
Show the worked answer
  1. Profit per unit is price minus average total cost.
  2. 12 - 9 = 3 dollars per unit.
  3. Multiply by the number of units sold.
  4. 3 x 200 = $600 of economic profit.

Answer: $600

Question 6: How does a single-price monopolist choose its output and price?

AP Microeconomics · Imperfect Competition

  1. It produces where marginal revenue equals marginal cost, then charges the price on the demand curve.
  2. It produces where price equals marginal cost.
  3. It charges the highest price any buyer would pay.
  4. It produces where average total cost is lowest.
Show the worked answer
  1. Profit is largest at the quantity where the last unit adds as much revenue as it adds cost.
  2. That condition is marginal revenue equals marginal cost.
  3. For a monopolist, marginal revenue lies below the demand curve because selling more lowers the price on every unit.
  4. So the firm reads the price up on the demand curve at that quantity, giving a price above marginal cost.

Answer: It produces where marginal revenue equals marginal cost, then charges the price on the demand curve.

Question 7: A worker adds 5 units of output per hour and each unit sells for $4 in a competitive market. What is the most the firm will pay per hour?

AP Microeconomics · Factor Markets

  1. $20
  2. $9
  3. $5
  4. $4
Show the worked answer
  1. The marginal revenue product is the extra output times the price of that output.
  2. 5 x 4 = 20 dollars per hour of extra revenue.
  3. A firm hires while the wage is below that value.
  4. So it will pay up to $20 per hour, and hiring stops where the wage equals $20.

Answer: $20

Question 8: Producing a good creates $3 per unit of pollution damage to others. What corrective tax restores the efficient quantity?

AP Microeconomics · Market Failure and Government

  1. $3 per unit
  2. $3 total on the firm
  3. No tax, because the market is efficient
  4. A tax equal to the whole production cost
Show the worked answer
  1. With a negative externality the social cost is above the private cost, so the market makes too much.
  2. A Pigouvian tax makes the producer feel the missing cost.
  3. The gap between social and private cost is $3 per unit.
  4. So a tax of $3 per unit shifts supply to the socially efficient quantity.

Answer: $3 per unit

Which unit each printed question belongs to

Use this map after marking your work. If two misses share a unit, review that unit before starting a generated set.

The 8 printed AP Microeconomics questions, the unit each one tests, and its answer.
QuestionUnitWhat it asksAnswer
1Basic Economic ConceptsAnna makes 10 chairs or 20 tables in a day. Ben makes 6 chairs or 6 tables. Who has the comparative advantage in chairs?Ben, because he gives up only 1 table per chair
2Supply and DemandA 20% price rise causes quantity demanded to fall 10%. What is the price elasticity of demand, and is demand elastic?0.5, so demand is inelastic
3Supply and DemandAt a price ceiling, quantity demanded is 800 and quantity supplied is 500. What is the result?A shortage of 300 units
4Production, Cost, and Perfect CompetitionTotal cost is $600 at 50 units and $660 at 51 units. What are the average total cost at 50 units and the marginal cost of the 51st?ATC $12 and MC $60
5Production, Cost, and Perfect CompetitionA competitive firm sells 200 units at $12 each with an average total cost of $9. What is its profit?$600
6Imperfect CompetitionHow does a single-price monopolist choose its output and price?It produces where marginal revenue equals marginal cost, then charges the price on the demand curve.
7Factor MarketsA worker adds 5 units of output per hour and each unit sells for $4 in a competitive market. What is the most the firm will pay per hour?$20
8Market Failure and GovernmentProducing a good creates $3 per unit of pollution damage to others. What corrective tax restores the efficient quantity?$3 per unit

How the generated AP Microeconomics sets are created

The 8 questions above are fixed and checked. The generator at the top of the page is different: it writes fresh questions with AI from the course and unit information shown here, then the application checks each one for a complete prompt, four choices, one keyed answer, and an explanation. Generated questions are original practice—not official or released exam questions—and AI can still make mathematical mistakes. Verify a disputed answer with the stated method, your course materials, or the MathGPT solver, and follow the site's academic-integrity guidance.

Questions about this AP Microeconomics course test

What does this page cover?

It covers all 6 AP Microeconomics units listed above.

When can I see correct answers and explanations?

Submit the full test first. The result screen then shows every response, the correct answer, and the explanation so you can review each miss.

How long is each section of the AP Microeconomics exam?

Multiple choice: 1 hour 10 minutes, 60 questions. Free response: 1 hour, 3 questions.

Which AP Microeconomics sections allow a calculator?

Rules change from section to section. Multiple choice: four-function calculator. Free response: four-function calculator. Not provided: no formula sheet. Practise each section under its own rule.

Which AP Microeconomics units does this test cover?

All six: Basic Economic Concepts, Supply and Demand, Production, Cost, and Perfect Competition, Imperfect Competition, Factor Markets, Market Failure and Government. Study first: Supply and Demand (20–25%) and Production, Cost, and Perfect Competition (22–25%) tie for the largest published weighting.

What should I check first when I review a missed AP Microeconomics question?

Marginal cost always crosses average total cost and average variable cost at their minimum points. A graph where it does not cannot earn the graph point.

What should I do with a missed question?

Classify the miss as a definition, setup, calculation, interpretation, or timing error. Re-solve it from a blank page, then use the MathGPT tutor for a hint or method check.