<p>That was the easiest AP micro test I’ve ever seen.</p>
<p>I think I got a 100%</p>
<p>@ loldanielol</p>
<ol>
<li><p>A monopoly graph of Steverail’s train firm</p></li>
<li><p>Marginal Utility chart of toy cars and bagels</p></li>
<li><p>Tariff for a country with a world price well below equilibrium</p></li>
</ol>
<p>Oh right! Thank you. For #1, what did you guys get for (c) and (d)? A per-unit subsidy would allow the monopoly to produce at where D=MC, right? But what would a lump-sum tax?</p>
<h1>2, it was 5 car toys and 3 bagels.</h1>
<h1>3, was the tariff supposed to be $3? Also, what was the consumer surplus?</h1>
<p>I thought that it was much much harder than macro</p>
<p>@loldanielol
Yes to question 2, but the last part of question 3 is wrong.</p>
<p>The tariff would be $0 (no tariff) in order to maximize total surpluses. This is because tariffs create deadweight loss and simply take away possible surplus. If you calculated the surplus using the actual numbers, you could also find this out.</p>
<p>The consumer surplus at $4 per pound of sugar was $25 million. The tariff revenue was $8 million.</p>
<p>"@ loldanielol</p>
<ol>
<li><p>A monopoly graph of Steverail’s train firm</p></li>
<li><p>Marginal Utility chart of toy cars and bagels</p></li>
<li><p>Tariff for a country with a world price well below equilibrium "</p></li>
</ol>
<p>yeah…this is not the part 2 i took…is this a problem?</p>
<p>Will I lose points if I didn’t see the word “million”?</p>
<p>I also noted that a -$2 would be even better, but I assume they only want nonnegative values…</p>
<p>@garfieldliker</p>
<p>Maybe 1 point off.</p>
<p>I believe that a negative tariff is also known as a subsidy :P</p>
<p>I thought the MC was extremely easy but the FRQ was very difficult for me. I finished like 15 minutes early on the MC and had the time to check all of my answers. I totally bombed the frq & didnt finish on time. what would my score possibly be if I got less than 10 wrong on the MC and made a few points here and there for the 3 questions on the FRQ? The frq would’ve been easy but I self studied using a review book that didn’t go too much into detail & took a few free practice tests online.</p>
<p>Crap I got the toy car and bagel problem wrong… If two goods’ MU are equal, would you go for lower priced good?</p>
<p>If you get some points from FRQ, then you’d probably get a 4</p>
<p>[AP</a> Pass - AP Microeconomics Calculator](<a href=“http://appass.com/calculators/microeconomics]AP”>AP Micro-economics Test Score Calculator - AP Pass)</p>
<p>@freddydo
You would want to set the marginal utility per dollar of one good equal to that of the other good.</p>
<p>For the 2nd frq, it asked if demand would increase decrease or no change. I put no change because I think QUANTITY DEMANDED increased not demand. Is that right? I put no change for like 3 of them lol.</p>
<p>^I think, in this context, that distinction doesn’t have to be made, since she doesn’t have a demand curve.</p>
<p>I mean it asked if her demand changed which won’t since she will still like the product. Maybe they’ll give credit to more then one answer.</p>
<p>I’m pretty sure the intent was to ask whether she’ll buy more or less bagels…</p>
<p>What was the q for the inferior good one or normal good and what was the answer?</p>
<p>I had normal, but then i switched it to inferior because it was negative.</p>
<p>I think it was a normal good because demand decreased with an increase in price, which effectively makew the person poorer.</p>
<p>Also, @Liamneeson, I think the question asked for maximum domestic surplus, in which case the optimal tariff would be $3 because it would raise the price to the competitive equilibrium price, which maximizes domestic surplus, even though it does take away from the total surplus including the imported part</p>
<p>^But the consumer surplus IS domestic surplus even if their happiness comes from imported goods…</p>