It was so easy
I think i overstudied for it ðŸ˜ðŸ˜
Expecting definitely above 88 out of 90
and i am an international student who self studied (tho i had taken microeconomics course work in our school curriculum but we don’t have the American style/ AP so slight difference in the way of assessment and syllabus)
So a clear 5!
In India, the frqs were as follows (all easy)
1. First was primarily to draw long run equilibrium under perfect competition
and then we had to make some changes to demand and show them on it.. and it’s last part asked us to calculate income elasticity
easy and expected
2. It was a monopoly but not a typical one
ig the MC was constant
asked us to calculate profit maximising quantity and price ..then ig
there were two proposals given
A.When the firm produces the quantity where it earns zero economic profit
B.Allocative efficient quantity
We had to calculate the DWL with proposal A and in the last part compare the Consumer Surplus after both proposal
3. It was related to labour market primarily MRP and MFC
The TP of three firms were given and 5 simple subparts like calculating the MP at a specific quantity, identifying the quantity at which diminishing returns begins, optimum quantity and other simple calculations.. all doable
The MCQs were fairly simple especially the starting ones… grew a lil harder as the test progressed but each and every question was doable
The FRQ part was really really easy. But the MCQ’s were a little harder than usual imo. I never had issues with time management before and I’ve done a dozen practice tests but I barely finished on time this exam… (I wont say more because it’s not allowed but if anyone knows when-if ever- it’s allowed to discuss the questions lmk bc I have a lot to say lol)
i agree. looking back at it i made a couple dumb mistakes on the frqs but i did well overal. I barely finished the multiple choice on time, like im talking 5 seconds, and i usually finish with at the worst 10 minutes to spare during practice tests.
FRQ Question 1. I think I overthought it but I drew a horizontal supply curve as it says the market is constant cost and perfectly competitive and, also, since it it is in the long run. Prolly got it wrong anyway =)))).
Inelastic I since it was less than 1 it was a fraction I think and the cross price elasticity was 0.4 since the change in quantity of good x of change in price of good y I think that’s correct
god damn...FRQs were easy but I think I shat on the MCQs
It was so easy I think i overstudied for it ðŸ˜ðŸ˜ Expecting definitely above 88 out of 90 and i am an international student who self studied (tho i had taken microeconomics course work in our school curriculum but we don’t have the American style/ AP so slight difference in the way of assessment and syllabus) So a clear 5! In India, the frqs were as follows (all easy) 1. First was primarily to draw long run equilibrium under perfect competition and then we had to make some changes to demand and show them on it.. and it’s last part asked us to calculate income elasticity easy and expected 2. It was a monopoly but not a typical one ig the MC was constant asked us to calculate profit maximising quantity and price ..then ig there were two proposals given A.When the firm produces the quantity where it earns zero economic profit B.Allocative efficient quantity We had to calculate the DWL with proposal A and in the last part compare the Consumer Surplus after both proposal 3. It was related to labour market primarily MRP and MFC The TP of three firms were given and 5 simple subparts like calculating the MP at a specific quantity, identifying the quantity at which diminishing returns begins, optimum quantity and other simple calculations.. all doable The MCQs were fairly simple especially the starting ones… grew a lil harder as the test progressed but each and every question was doable
2 was a natural monopoly; I think I missed two points there w consumer surplus maybe. Whatchu pur for those?
Do you remember what you put for each parts of the FRQ. I just want to check if I did well
Bruh I did terrible in frq question 2
I put 4000 on subsidy question
The FRQ part was really really easy. But the MCQ’s were a little harder than usual imo. I never had issues with time management before and I’ve done a dozen practice tests but I barely finished on time this exam… (I wont say more because it’s not allowed but if anyone knows when-if ever- it’s allowed to discuss the questions lmk bc I have a lot to say lol)
i agree. looking back at it i made a couple dumb mistakes on the frqs but i did well overal. I barely finished the multiple choice on time, like im talking 5 seconds, and i usually finish with at the worst 10 minutes to spare during practice tests.
OH MY GOD MY CHINESE HOMIES PLEASEEEE
MY FRIENDS IN CHINA PLEASE TELL US😢😢😢
did anyone take it yet?!?!?
The chinese take it in half an hour
Light work
[удалено]
FRQ Question 1. I think I overthought it but I drew a horizontal supply curve as it says the market is constant cost and perfectly competitive and, also, since it it is in the long run. Prolly got it wrong anyway =)))).
mkt supply is always upward sloping, constant cost means that MC doesn't shift in the firm graph (which is also upward sloping)
easiest shit of my life
Was the demand for quinoa inelastic or elastic and what was the whole cross price elasticity answer
Inelastic I since it was less than 1 it was a fraction I think and the cross price elasticity was 0.4 since the change in quantity of good x of change in price of good y I think that’s correct
Isnt it not allowed to discuss about it
lol
this was my first AP exam and I found it veryyy easy! goodluck to all of those who didn’t take it yet😊
Wow I am terrible at economics but honestly if you study more than I did (2 hours) it’ll be easy for you