A company enjoys a monopoly. What happens to its profits when another firm introduces a similar product? Learners consider the case using questions from College Board. Other prompts include the effects of sales taxes and supply and demand curves.

Concepts

monopolies, revenue, profits, taxes, supply and demand, supply curves, microeconomics, test preparation

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Additional Tags

social studies

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Instructional Ideas

• Use the resource to construct a review for the AP® exam
• Modify or revise items to assist in content test preparation

Classroom Considerations

• These are the free-response questions from the 2004 AP® microeconomics exam

Pros

• Scoring rubrics simply feedback
• Items are easy to replicate and adapt to lessons

Cons

• None

Common Core

RH.9-10.1 RH.9-10.2 RH.9-10.3 RH.9-10.10 RH.11-12.1 RH.11-12.2 RH.11-12.3 RH.11-12.10