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The set also includes a strategic interaction problem for two airlines with a payoff matrix to identify market structure and dominant strategies. A longer question analyzes substitute goods and how a technology reducing peach production costs affects outputs, prices, profits, and spillover effects on the nectarine industry and its labor market, including wages and hiring.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/ap-microeconomics-2020-exam-sample-questions/460098/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/ap-microeconomics-2020-exam-sample-questions/460098.png","ImageObject",300,407,{"name":92,"@type":93},"Levi","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-26","2026-09-30",true,{"@type":102,"interactionType":103,"userInteractionCount":39},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"How do you determine producer surplus at the market equilibrium in the widgets question?","Question",{"text":112,"@type":113},"Compute total producer surplus at the equilibrium price and quantity by using the market graph and showing the required work.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What effects do a price floor at $16 and a price ceiling at $12 have on the widgets market?",{"text":117,"@type":113},"For each policy, determine whether the outcome creates a shortage, a surplus, or neither, and explain the reasoning based on the relationship between the policy price and equilibrium.",{"name":119,"@type":110,"acceptedAnswer":120},"How does a cost-reducing technology in peaches affect peaches, nectarines, and the nectarine labor market?",{"text":121,"@type":113},"First analyze Joyce’s firm-level effects on peach quantity, peach price, and short-run profits. Then extend to industry-wide adoption to find changes in peach price and quantity, and finally apply spillover effects to nectarines and to wages and hiring in the labor market for nectarine workers.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},460098,1790792957,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":39,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":19,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":52},7971461740909,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","2020 Exam Sample Questions  \nAP® MICROECONOMICS  \nSample Question 1: Two Short Questions  \n(Questions taken from: 2015 and 2007 AP® Microeconomics Exams)  \nAllotted time: 25 minutes (plus 5 minutes to submit)  \nThe graph below shows the market for widgets. The government is considering intervening in this market.  \n(a) Calculate the total producer surplus at the market equilibrium price and quantity. Show your work.  \n(b) If the government imposes a price floor at $16, is there a shortage, a surplus, or neither? Explain.  \n(c) If instead the government imposes a price ceiling at $12, is there a shortage, a surplus, or neither? Explain.  \n(d) If instead the government restricts the market output to 10 units, calculate the deadweight loss. Show your work.  \nAssume the price decreases from $20 to $12.  \n(e) Calculate the price elasticity of demand. Show your work.  \n(f) In this price range, is demand perfectly elastic, relatively elastic, unit elastic, relatively inelastic, or perfectly inelastic?  \nAP Microeconomics 2020 Exam | Sample Questions 2  \nTwo airline companies, Airtouch and Windward, operate a route from City X to City Y, transporting a mix of passengers and freight. They must file their schedules with the National Transportation Board each year and cannot alter them during that year. Those schedules are revealed only after both companies have filed. Each airline must choose between a morning and an evening departure. The relevant payoff matrix appears below, with the first entry in each cell indicating Airtouch’s daily profit and the second entry in each cell indicating Windward’s daily profit.  \n(g) In which market structure do these firms operate? Explain.  \n(h) If Windward chooses an evening departure, which departure time is better for Airtouch?  \n(i) Identify the dominant strategy for Windward.  \n(j) Is choosing an evening departure a dominant strategy for Airtouch?  \nExplain.  \n(k) If both firms know all of the information in the payoff matrix but do not cooperate, what will be Windward’s daily profit?  \nAP Microeconomics 2020 Exam | Sample Questions 3  \nSample Question 2: Long Question  \n(Question taken from: 1995 AP Microeconomics Exam)  \nAllotted time: 15 minutes (plus 5 minutes to submit)  \nPeaches and nectarines are substitute goods, and both are produced under conditions of competitive long-run equilibrium.  \nJoyce, a producer in the peach industry, discovers a technological breakthrough that only reduces the cost of producing peaches. Explain how the change in technology will affect each of the following for Joyce.  \n(a) Quantity of peaches produced  \n(b) Price of peaches  \n(c) Short-run profits  \nNow assume that all other peach-producing firms adopt the new technology. Explain how the adoption of the new technology will affect each of the following in the peach-producing industry.  \n(d) Price of peaches  \n(e) Quantity of peaches produced  \nThis new technology is not applicable to the production of nectarines. Explain how the changes that occurred in the peach industry will affect each of the following in the nectarine industry.  \n(f) Price of nectarines  \n(g) Quantity of nectarines  \nThe graph above depicts the supply and demand curves for workers in the nectarine industry before the technological breakthrough in the peach industry.  \nExplain how the technological breakthrough in the peach industry will affect each of the following in the labor market for nectarine workers.  \n(h) Wage rate for nectarine workers  \n(i) Number of nectarine workers hired  \nAP Microeconomics 2020 Exam | Sample Questions 4","cbCaipJZfuVE6IJV","https://ap.wps.com/l/cbCaipJZfuVE6IJV","pdf",690983,"English","# Sample Question 1: Two Short Questions\n## Widgets market and government intervention\n## Elasticity of demand\n# Sample Question 1: Two Short Questions\n## Airline payoff matrix and strategies\n# Sample Question 2: Long Question\n## Substitute goods and technological breakthrough in peaches\n## Industry-wide adoption and spillover to nectarines\n## Labor market effects for nectarine workers","[{\"question\":\"How do you determine producer surplus at the market equilibrium in the widgets question?\",\"answer\":\"Compute total producer surplus at the equilibrium price and quantity by using the market graph and showing the required work.\"},{\"question\":\"What effects do a price floor at $16 and a price ceiling at $12 have on the widgets market?\",\"answer\":\"For each policy, determine whether the outcome creates a shortage, a surplus, or neither, and explain the reasoning based on the relationship between the policy price and equilibrium.\"},{\"question\":\"How does a cost-reducing technology in peaches affect peaches, nectarines, and the nectarine labor market?\",\"answer\":\"First analyze Joyce’s firm-level effects on peach quantity, peach price, and short-run profits. Then extend to industry-wide adoption to find changes in peach price and quantity, and finally apply spillover effects to nectarines and to wages and hiring in the labor market for nectarine workers.\"}]","AP® Microeconomics 2020 Exam - Sample Questions | PDF",1790757726]