2024 AP Micro Exam Predictions

"this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality saying assume instead there's an externality where is allocatively efficient or where is the socially optimal or dead weight loss or having you draw that graph so I think it's perfect competition and externalities on question one"

"I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity"

"and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP"

"this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality... so I think it's perfect competition and externalities on question one"

"I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity"

"and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP so to recap free response number one perfect competition and externalities number two utility maximizing and elasticity and number three labor market market and firm"