2011 AP Microeconomics微观经济（Form B）真题系列之简答题免费下载

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2011 AP Microeconomics（Form B） Free-Response Questions Free Download

2011 AP 微观经济（Form B）简答题部分免费下载

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1）Suppose that roses are produced in a perfectly competitive, increasing-cost industry in long-run equilibrium with identical firms.

1. Draw correctly labeled side-by-side graphs for the rose industry and a typical firm and show each of the following.
   1. Industry equilibrium price and quantity, labeled Pm and Qm, respectively
   2. The firm’s equilibrium price and quantity, labeled Pf and Qf, respectively
2. Is Pm larger than, smaller than, or equal to Pf?
3. Assume that there is an increase in the demand for roses. On your graphs in part (a), show each of the following.
   1. The new short-run industry equilibrium price and quantity, labeled Pm2 and Qm2, respectively
   2. The new short-run profit-maximizing price and quantity for the typical firm, labeled Pf2 and Qf2, respectively
4. As the industry adjusts to a new long-run equilibrium,
   1. what will happen to the number of firms in the industry? Explain.
   2. will the firm’s average total cost curve shift upward, shift downward, or remain unchanged?
5. In the long run, compare the firm’s profit-maximizing price to each of the following.
   1. Pf in part (a)(ii)
   2. Pf2 in part (c)(ii)

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