A rabies vaccine company has a monopoly, but fluctuations in wages are impacting its profits. A series of questions from College Board considers the problem. Other practice questions include an examination of price and output curves and what happens to bread producers when the government starts to subsidize wheat.

Concepts

price elasticity, consumers, monopolies, raw materials, prices, profit, microeconomics, test preparation, government spending

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Additional Tags

social studies

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Instructional Ideas

• Use the resource to help guide a review for the AP® exam
• Offer as extra practice or to reinforce instruction

Classroom Considerations

• Questions are from the 2005 AP® exam in microeconomics
  

Pros

• Scoring guidelines make feedback easy
• Queries are based on engaging real-world scenarios

Cons

• None

Common Core

RH.6-8.10 RH.9-10.1 RH.9-10.2 RH.9-10.3 RH.11-12.1 RH.11-12.2 RH.11-12.3 RH.11-12.10