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Preface v
Acknowledgments vii
About the Authors ix
Introduction: The Five-Step Program xi STEP 1 Set Up Your Study Program
CHAPTER 1 What You Need to Know About the AP Microeconomics Exam 3 CHAPTER 2 How to Plan Your Time 11 STEP 2 Determine Your Test Readiness
CHAPTER 3 Take the Diagnostic Exam 19 STEP 3 Develop Strategies for Success
CHAPTER 4 How to Approach Each Question Type 43 STEP 4 Review the Knowledge You Need to Score High
CHAPTER 5 Fundamentals of Economic Analysis 51 CHAPTER 6 Demand, Supply, Market Equilibrium, and Welfare Analysis 67 CHAPTER 7 Elasticity, Microeconomic Policy, and Consumer Theory 86 CHAPTER 8 The Firm, Profit, and the Costs of Production 114 CHAPTER 9 Market Structures, Perfect Competition, Monopoly, and Things Between 129 CHAPTER 10 Factor Markets 155 CHAPTER 11 Public Goods, Externalities, and the Role of Government 169 STEP 5 Build Your Test-Taking Confidence
AP Microeconomics Practice Exam 1 183
AP Microeconomics Practice Exam 2 203
Appendixes
Further Reading 225
Websites 226
Glossary 227
Important Formulas and Conditions 232